Oireachtas Joint and Select Committees

Thursday, 18 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Kevin Cardiff:

Well, I don't think it was very strange. I mean, just to put it this way, remember the Taoiseach wasn't, you know, a deus ex machinathat arrived at the last minute to sort things out. He'd been involved in discussions prior to this, and with the Minister certainly, even in some of the formal discussions that you have notes of, so this wasn't a sudden Pauline conversion based on no information. He had information, and the information was that, yes, you know, if you apply extreme stresses, then things would be worse, but as of that moment the extreme stresses hadn't arisen. The stresses that happened in the next two years turned out to be worse than we'd all imagined, unfortunately. But so no, I don't think it was strange. It did take me as, I think, by ... as I think I said, a little by surprise because, well, frankly because I'd a different view and, therefore, I was, I suppose, grappling with the fact that someone else in the room had a view that wasn't mine, and was trying to address that.

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