Oireachtas Joint and Select Committees

Thursday, 15 January 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Photo of Marc MacSharryMarc MacSharry (Fianna Fail) | Oireachtas source

That is good and it is important. As we are speaking today, news agencies are reporting the cost was €40 billion. I am pleased to hear Professor Patrick Honohan put it on the record that the figure is incorrect.

Using ELA, emergency liquidity assistance, between the Tuesday and Sunday in question, why does Professor Patrick Honohan believe the European authorities, with negotiations, would have made an intervention to the extent that the price for the overall cost of the crisis to the people would have been less?

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