Oireachtas Joint and Select Committees

Wednesday, 29 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Eugene Sheehy:

So I said it in my opening statement, I can't remember saying that, and I said that, you know, that kind of language could have been used in relation to the systemic issue of, if the system, the entire banking system, as a result of the imminent Anglo default, was allowed to continue, liquidity would have kept on shortening and shortening and shortening. And if that happened, banks that are solvent, bank that have more assets than, you know, surplus assets, can go out of business because they just can't get cash.

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