Oireachtas Joint and Select Committees

Wednesday, 24 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of John Paul PhelanJohn Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

Thank you, Chairman. Mr. Beausang, good afternoon. Firstly, can I just refer to the document ... or the issue that Deputy Higgins referred to in terms of Irish Nationwide and its report ... or the report into it by Goldman Sachs? Mr. Cardiff, in his statement two weeks ago, stated to the committee, "In the first half of September 2008 [and I'm quoting him now], when it was clear that INBS was in ... difficulty, I told the staff in the [regulator] that [Bank of Ireland] ... and ... AIB ... would have to be called in to assist in a resolution for [Nationwide]." Were you aware that that was happening or were you part of those discussions?

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