Oireachtas Joint and Select Committees

Thursday, 18 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. John Moran:

-----part of what ... I guess, some of what I've tried to do in the written statement, right, is I've also tried to explain the processes that we adopted in the Department around decisions. And this was probably only two or three weeks after I had joined the Department, right, so it's probably more obvious when you look at some of the papers you see on the subsequent decisions on IBRC. Our job was to try and establish all the possible scenarios that could've arisen around decisions, in terms of giving advice to the various decision makers at the time. And it is not possible for me to have asked the Minister ... or, sorry, suggested to the Minister the scenario around borrowed burden-sharing you're talking about without actually spelling out to him that one of the things that we were very exposed on was the amount of ECB funding in our system.

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