Oireachtas Joint and Select Committees
Wednesday, 25 February 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Professor Gregory Connor:
That certainly was a problem in Ireland. It was not just the banks. The bank managers knew there was implicit insurance. More important in Ireland's case was that the funders to the banks also relied on that insurance. The insurance actually went to the funders. The German, British, Swiss and French funders of the banking system were all paid in full. That was a problem.
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