Oireachtas Joint and Select Committees
Thursday, 11 June 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Liam O'Reilly:
I would say that we were in this market paradigm period where people bid for funds, and markets would work smoothly, but that isn't what happened. Markets ground to a halt, and all of a sudden there was a freeze, and interest rates increased at a very, very large rate at that time.
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