Oireachtas Joint and Select Committees

Wednesday, 21 January 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Photo of Michael D'ArcyMichael D'Arcy (Fine Gael) | Oireachtas source

Remarkably, subsequent to that week in 2008, the amount of ELA went from a very small level to about €90 billion, and then there was an additional amount of tens of millions of euro from other EU funding. The relatively small amount of ELA in that period would have been a fraction of what subsequently went in. Can Professor Lane explain? I am baffled as to why a small amount was not considered to get to the weekend, when there would have been more time, and subsequently tens-----

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