Oireachtas Joint and Select Committees

Thursday, 18 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Kevin Cardiff:

So either the 28th or the 29th, so this is a breach of 33AK by proxy. So he reported back to us - you don't seem to mind - he reported back to us that Mr. Trichet had said ... okay ... maybe if you don't mind taking ... you, you have the note there and you have what I say, but I'll say ... so I'll say it in English and then you can check back against my more ... my more specific wording. But, what the message was was that John had said to him, "Look, in Ireland, we've got significant troubles in a few days, in the next few days", and the message back was, "Well, look at what we've just been discussing. The Belgians are looking after Fortis; the Germans are looking after HRE; Ireland has to look after its problems." So the message that was reported to us, and it's consistent with the ... what I've actually written down is that the ECB certainly, and probably Mr. Trichet through this private discussion, but the message back was you have to make sure your own banks are dealt with by your own Government. And I mean I think ... that ... that's my recollection of the message that ... that was passed on. At the same time, I have notes that suggest that there were attempts back and forth to make contact so I don't know if there was an earlier contact or not, but that's a fairly specific recollection and it should help you along I think.

Comments

No comments

Log in or join to post a public comment.