Oireachtas Joint and Select Committees
Wednesday, 4 March 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Dr. Peter Bacon:
No, I did not know it could not be done. I felt it was worth exploring whether it could be done. Why was the guarantee there? It was because people did not believe the institutions had adequate capital to cover the impairments. If NAMA was put in place and the impairments removed, would we have removed the uncertainty surrounding the institutions in question to the extent that they would not then need the guarantee?
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