Oireachtas Joint and Select Committees

Thursday, 14 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Richard Burrows:

Not on that night but to your question, there was a lot of contact between Brian and the Bank of Ireland head office because the task we'd been set was to raise the finance to prevent the Anglo situation going wrong the following morning and so there was a lot of coming and going. I mean, as I said to you, that was a pretty complex thing to put in place at that hour of the night with that kind of urgency. So, yes, there was a lot of contact but that was the focus of what was going on and it wasn't until after we had satisfied ourselves that we could answer that question to Government along with AIB, that the question of the guarantee ever came on the table as part of the announcement. The response from Government to us that night was that, "Thank you very much, we're going to, in fact, go for a guarantee".

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