Oireachtas Joint and Select Committees
Thursday, 18 June 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. John Moran:
And that would've allowed us to actually put down a process of actually doing burden-sharing with them which would, for all the reasons I've said, be very difficult, right, because we had already had a commitment to put €29 billion, plus all the interest on it, into Anglo. So in order to burden share with senior debt holders at that time, we would've had to still show that the hole in the bank was sufficient to have allowed us to burn through effectively the equity, or rewrite the law.
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