Oireachtas Joint and Select Committees

Thursday, 21 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. John Hurley:

Well there were a number of simulation exercises, not just in Ireland but in Europe, that we all participated in. Simulation exercises take an extraordinary long time to prepare and the scenarios take a long time and it's hugely ... it's hugely time-consuming. But what you were trying to do in those simulation exercise is test a particular scenario. And we know that the scenario that unfolded wasn't tested in any of the simulation exercises. The scenario that unfolded couldn't be tested in any of the simulation exercises because nobody would have been able to design it.

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