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

I understand it has not caused a problem for Professor Honohan. To my mind, Professor Honohan's responsibility when he goes to Europe is the same as that of a European Commissioner in that he leaves the jersey at the door and brings the Irish information to the ECB on an ECB basis. Let us say the Governor of the day had information related to the position in Ireland and set out this position in the Governing Council and the other 24 people around the table felt this information was useful in protecting the other euro countries and broader euro area. Would his responsibility not be to the ECB rather than the Irish people or Government?

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