Oireachtas Joint and Select Committees

Wednesday, 24 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Kevin Cardiff:

Well, it would have ... remember, this was the new Government trying to get a new initiative under way and it would have robbed it of much of its market significance, I think. Maybe we were overdoing that, but that was the view. Also, it would have started the new Government off in a very bad situation with one of its most important business relationships and so forth. So, anyway, I mean, I ... quite explicit. I think I said in my statement you can understand why they were thinking in those ways but we definitely got what was definitely an instruction that ... you could say it was just advice only in the sense that, you know, we could have done something differently but then the consequences would have been different.

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