Oireachtas Joint and Select Committees

Wednesday, 17 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

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

Thank you very much. I'm just going to move to wrapping things up. I have just one or two questions that remain outstanding and I just need to round off some matters with you as well, and then I'll invite the two leads and bring matters to a conclusion. If there is anything you'd further like to add at that time, Mr. Doyle, you are more than welcome to. If I could just return to the issue or, or get into the area of the troika bailout programme and Ireland's contribution to it. The bailout programme was of €85 billion, €17.5 billion came from a National Pensions Reserve Fund and that's excluding bond redemptions from NAMA disposals. Could you maybe please elaborate to the committee the main features of the discussions with the troika, bilaterally with our EU partners and particular, if the €17.5 billion, as mentioned with regard to the National Pensions Reserve Fund, was presented as a precondition for assistance in that programme?

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