Oireachtas Joint and Select Committees

Thursday, 15 January 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Photo of Michael D'ArcyMichael D'Arcy (Fine Gael) | Oireachtas source

I have a question in regard to DEPFA. On the weekend prior to the State guarantee there were difficulties in terms of its liquidity, and funds were presented into that particular bank. In the professor's piece in the same book, he made the point that, here, the Irish authorities stood firm, resisting foreign pressures to provide Government or Central Bank support towards the bank that was based in Ireland but in the ownership of another, internationally regulated entity. To his knowledge, who was applying that pressure on the Irish authorities to provide funds?

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