Oireachtas Joint and Select Committees

Thursday, 18 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. John Moran:

And ... and ... and it is the case, to the extent that the success of the programme, right ... needed , and I can't remember the specific, and I know it's in the papers, but I mean they ... they do blend a little bit, right? Some of the type of questions that we were negotiating was if we were going to sell assets, sell State assets, which was actually part of the original programme, what could we do with the proceeds? Okay? And we wanted the ability to use ... and that would have been frankly the ... the ... this, I mean the way these things work by this stage, we have the troika come in to our large conference room, we have a good debate, we have a conversation with the Ministers, we keep going through the rest of the week, we come back at the end with the Ministers and hopefully we have managed to take issues off the table, and if we haven't, they are the ultimate negotiators on the last ones. A lot of the discussions are setting up for the requests that we have agreed, with the EFC and with the Cabinet earlier, going to be the important issues. So it may very well have been that that particular review was one of the ones where we were trying to get the ability to use the money from the sale of State assets to actually spend it back into the economy.

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