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

Photo of Marc MacSharryMarc MacSharry (Fianna Fail) | Oireachtas source

Thank you very much, Mr. Trichet. You are welcome. You said in your opening statement ... you spoke particularly to do with the burning of bondholders, the treatment of senior debt, that this option was extremely risky for Ireland, in your own words. You also spoke of the terribly agitated sea in which Ireland was but one boat. Against this background, presumably with the euro tying all the bolts together, did you tell Brian Lenihan either in personal phone calls, at ECOFIN meetings or in any other way , not to burn bondholders?

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