Oireachtas Joint and Select Committees

Thursday, 15 January 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Professor Patrick Honohan:

The manual was created many years ago. It was a crisis management manual on here is what we will do if something happens. It was revised from time to time but as General Eisenhower apparently said, plans are useless but planning is vital. It was full of things like "we will call in all these people and discuss things", as well as the telephone numbers and contact details. It really was not very actionable but presumably, the process of drawing it up and revising it made people aware of the sorts of decisions they would have to take at the time. There is no reason, although I would not wish to put it in the public arena, that the committee could not see-----

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