Oireachtas Joint and Select Committees

Thursday, 15 January 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Professor Patrick Honohan:

I think the answer is, first, the bank itself, DEPFA, was looking for the funds and, then, the persons in the German system, who are both public and private people, were concerned with the rescue of DEPFA. They were anxious that the Central Bank should provide the assistance in the form of ELA.

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