Oireachtas Joint and Select Committees
Wednesday, 19 December 2012
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB
4:40 pm
Peter Mathews (Dublin South, Fine Gael) | Oireachtas source
The witnesses must stand up and speak to the Minister. They must open a conversation with him. The former Minister asked them to go on the board. In many ways it was a poison chalice. There was an opportunity to open the curtains and let the light in as that is the best disinfectant. The witnesses could have decided to tell the newspapers what the position is and get it out fast because then it could be dealt with. One could then go to Mario Draghi and say that we need another €6 billion. One could say that we want a minimum of 20% provisioning and we would feed it back into the balance sheet or give it back to him. That is the type of technical engineering that should be done.
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