Oireachtas Joint and Select Committees
Wednesday, 22 April 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source
That is being made crystal clear. I don't think there's anyone on this committee that think otherwise. Can I ask you, just in relation to, Mr. McDonagh, in relation to the NTMA and I just want to clarify this for my own mind. You mentioned that the NTMA came under pressure in 2007 for liquidity of the banks, to place deposits in a number of the institutions and that you, the NTMA, the institution, made a decision that, if that were to happen, it needed to be on the direction of the Minister for Finance. Can I ask you where did the pressure come from, and specifically did it come from the Minister for Finance, either formally or informally, or somebody acting on behalf of the Minister for Finance?
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