Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

Okay, I am just going to go back into public session so. I just want to clarify one matter with you, Mr. Hurley, before we go into questions with Senator D'Arcy. When the press release was issued by the Central Bank the day after the guarantee, or the morning of the 30th, this is "Government Decision to Safeguard Irish Banking System." It then goes on to say that the guarantee makes mention that it was on "advice from the Governor of the Central Bank and the Financial Regulator about the impact of the recent international turmoil on the Irish banking system." It's in the very first paragraph of the release. Can I just ask you one question? Was that your advice coming to the meeting, that it would be a blanket guarantee and is that statement correct that it was on your advice when it was ultimately designed and delivered?