Oireachtas Joint and Select Committees

Wednesday, 27 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Con Horan:

I think in early 2007 I wouldn't call it there were deficiencies in the model. It had only been set up in 2006 under EU legislation, this type of structure. So, I think, certainly for much of the time it was beginning to find its role and understand what its role was.

It probably wasn't as proactive in retrospect, given what occurred subsequently, but it was trying to find its feet in terms of preparations for crises and running crisis simulation exercises, etc.

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