Oireachtas Joint and Select Committees

Thursday, 23 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Dermot Gleeson:

But I didn't believe we had a solvency problem on that night, let me just say that to you. No one asked us, no one raised it, and if I'd been asked I'd have said we were solvent. I believe it and I believe it still. As I say, house prices had dropped by 7.7% at that stage. The real trouble, the real trouble hadn't really started at that stage, so I believe we were solvent and absolutely believed that. But I was complaining here because a radio interview had been given that said all the banks were the same, last Monday, AIB was in the same trouble as us, and I knew that that wasn't true. I knew that we had liquidity out beyond a month. I didn't know how much; I wasn't into the detail. I knew we had enough liquidity to be able to pull out reserves of liquidity, all this ... this was helping a competitor, to keep Anglo going until the weekend, if Governor Hurley's version had prevailed. But I certainly ... I believed I was telling the truth and I still believe I was telling the truth in the paragraph that you-----

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