Oireachtas Joint and Select Committees

Thursday, 26 February 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

In page 9 of his opening remarks, Professor McDonough states:

Instead of a port in the storm, the backwash from the Eurocliff intensified the maelstrom. On the 29th of September, 2008, in the dead of night, Ireland desperately tried to signal for help, but the canon broke loose and holed the ship of state below the waterline.

Can he elaborate on what he means by "Ireland desperately tried to signal for help"?

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