Oireachtas Joint and Select Committees
Thursday, 26 February 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Mr. David McWilliams:
No, I do not think so. I think this was a conference that I was chairing. Because it was 2005 and because nobody at that stage was talking about property busts and our banking problems, and I was the chairman, so I said "Hold on a second. It is all very well to say that the economy is flying along. What happens not if, but when, this implodes?" I said what was likely to happen was that Irish banks would be bought by some other banks, Wilbur Ross-type characters or whatever it happened to be in the case. I then got the response that it would be better if Irish executive remained at the helm.
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