Oireachtas Joint and Select Committees

Thursday, 18 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 just want to deal with one matter there with regard to the NTMA before I bring in Deputy Doherty, Mr. Cardiff. It's reference document DOF, KCA, and it's coming up on your screen there, it's actually ready to go, I think, at this moment. It relates to, it's about midway down the page, it says:

In the NTMA, Brendan McDonagh and John Corrigan were my principal contacts at this stage, and they were briefing their CEO, Mr. Michael Somers, on a daily basis. For a part of this time, John Hurley was missing while recovering from the Oireachtas [sic] [and we've discussed that earlier with Mr. Hurley] it was a relief when he came back in because the Dame Street system clearly worked better when there was a single person to co-ordinate.

In this regard, if I could maybe ask you, Mr. Cardiff, is it your view that senior staff at the NTMA were aware of the range of policy options being considered and analysed, including a guarantee, prior to the decision on 20/9/2008?

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