Michael D'Arcy (Fine Gael) | Oireachtas source

Governor Honohan attended and gave evidence last week. Part of his evidence related to his discussions with the former Minister for Finance, Brian Lenihan. He had hoped to get to the weekend following the bank guarantee if emergency liquidity assistance could have been made available. Why does Professor Lane think such assistance was not available at that stage? It would have allowed the authorities to buy a little time to get to the weekend. Rather than having to deal with the matter in a number of hours, they would have had a few days when the markets were closed.