Oireachtas Joint and Select Committees

Wednesday, 10 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Tom O'Connell:

Well ... well I think part of the rationale for the simulation exercise was really to find out, you know, what problems exist in relation to a possible crisis that might occur. So ... I think that maybe the material you sent to me there points out, you know, what the three different parties, how they, how they viewed this simulation exercise and what deficiencies they saw in it. So ... did it serve its purpose? That one did, I suppose, in the sense that it did uncover problem areas. I can remember I think at the time the Department of Finance, for example, they were in a room on the seventh floor and they were there for a long time and nobody came near them for about 20 minutes or half an hour and they wondering what it's all about. So there was sort of lack of communication, things like prioritisation of data was necessary. There was just too much data flying around, it wasn't clear which was important or whatever.

Comments

No comments

Log in or join to post a public comment.