Oireachtas Joint and Select Committees

Thursday, 18 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Kevin Cardiff:

You're on the spot, Chairman. So, as I understood it and as I still understand it, there were potential constitutional issues. Another very significant issue is that most of the deposits are in Irish law but most of the bonds are in English law. So, you don't just have to ... you can't just change Irish legislation, it has to be legislation that can pass internationally.

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