Oireachtas Joint and Select Committees

Thursday, 23 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Eoghan MurphyEoghan Murphy (Dublin South East, Fine Gael) | Oireachtas source

Okay. Thank you.

I'd like to move to just a few months prior to that, when you appeared in front of an Oireachtas finance committee in December 2008. And you said:

With regard to the recapitalisation of banks, part of the difficulty in the debate is that banks are banded together as if we are all the same. We are not. AIB has made it clear it does not believe it needs capital and that additional capital will not do anything for the business for which I am responsible.

Then in February, two months later ... February 2009, there was a capital injection into the bank from the Government. Can you please explain the difference between your statement and the actual subsequent action?

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