Oireachtas Joint and Select Committees

Thursday, 25 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Susan O'KeeffeSusan O'Keeffe (Labour) | Oireachtas source

Okay, so when ... when you went on the radio - I have the transcript here:

Rachael English: And you can confirm that they will be giving us a loan?

Patrick Honohan (Governor of the Central Bank): Well if it's agreed. If it's agreed of course yes.

Rachael English: And when you say if it's agreed, I mean why else would they be here?

[And then you go on and say there's an expectation and so on.]

Rachael English: So it is your understanding then, that there will be a loan, and that we will have to accept it?

Patrick Honohan (Governor of the Central Bank): It's my expectation that that would happen yes absolutely.

[And then at the end she says] Listeners are getting on to us, they're looking for absolute clarity here.

[And you said] Look it's not my call. It's the Government's decision at the end. It's my expectation that this [is] what is definitely likely to happen. That's why the large technical teams are sitting down discussing these matters.

So I'm wondering, Mr. Honohan, how would it have been possible for any member of the Government at that point to come along behind you and disagree with that, which you have suggested earlier?

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