Oireachtas Joint and Select Committees

Thursday, 30 April 2015

Committee of Inquiry into the Banking Crisis

Institute of International and European Affairs
Governance of the ECB: Past, Present and Future

Mr. Jean-Claude Trichet:

Change the rules, yes. I mean ... again, no pre-negotiation, no pre-discussion on the guarantee of any kind, no call for any dialogue on that. We have the guarantee which comes. The guarantee is a thunderbolt for many, many countries. As I told you already, no further discussion with anybody, no further discussion with any other governments, and all governments were, of course, shocked by the fact that one particular country was taking an extraordinary decision, including some of your neighbours. And, of course, I don't even imagine that there was anything linking guarantee in Ireland, collateral and so forth.

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