Oireachtas Joint and Select Committees

Thursday, 30 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Brian Goggin:

In the earlier part of the evening, when there was a discussion around the desirability or possibility of nationalising Anglo Irish Bank and Irish Nationwide, the construct - which would have been very similar to the one that was laid out to me at 11 o'clock that morning down in Dame Street by the Central Bank and Financial Regulator ... a scenario where two banks would have failed and the rest of the banks would have been provided with a guarantee. I mean, that was the genesis of the input I had in going to Government Buildings that night. So yes, I mean, that was a kind of ... the scenario, initially, in the early stages of the discussion. These two banks would be dealt with and the rest of the banks would be given a guarantee. But, it didn't play out that way.

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