Oireachtas Joint and Select Committees

Wednesday, 17 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Eoghan MurphyEoghan Murphy (Dublin South East, Fine Gael) | Oireachtas source

----- in March of that year. At that point, one bank, no one would lend to one bank in the Irish economy. In another bank, no Irish bank would lend to. The Governor and the Financial Regulator were approaching each of the banks and asking them to lend to each other. That was the green jersey agenda. €20 billion had been wiped off bank shares in Ireland since the beginning of the year and there was a feared run on one bank, which led to intervention. So why not move in then? Why not take the opportunity then to seek a resolution?

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