It's more akin to the Irish system, but it would probably satisfy the pro-regulation factions in Parliament.
The property boom had been fuelled by massive lending from the banks, and when this collapsed - and lenders were unable to repay - the Irish banking system was plunged into crisis.
This was how the Irish banking system went into meltdown in 2010 and the precedents in Cyprus are likely to increase skittishness when banking problems rise to the fore again in other countries.
FORBES: Cyprus Deposit Levy: No Panic Yet But Scary Long-Term Consequences
Beyond this point, however, his argument with the SDLP seemed to symbolise the gulf between the Irish political system, in which referenda, sometimes on apparently technical points, are a regular feature, and the British approach in which they tend to be few and far between.
BBC: Referenda still on the agenda on both sides of the border
The Irish dislike the idea that their system of criminal law could move towards the continental European model.
MBNA, a huge credit-card issuer, is launching such a system with Orbiscom, an Irish software supplier.
On the stadium sound system U2's "Beautiful Day" blared and the Irish crowd sang along to their best-known band.
Google selling ads into France from its Irish office (which is what it does) is not some perversion of the tax system.
FORBES: Apparently France Will Tax Google ��1 Billion: Not A Chance M. Hollande
The Irish parliament, or Dail, is elected by proportional representation, using the single transferable vote system.
As I've said before, the more telling comparison is with the Irish Republic, which, like Iceland, had handled its public finances well but its financial system disastrously badly.
In all, the authors reckon that the total public cost of the crisis in the financial system will come to 20% of GDP, which is more than any other country except the Irish Republic.
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