Oireachtas Joint and Select Committees

Thursday, 25 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Professor Patrick Honohan:

I think it would have been very easy for them to do so, if they wanted to. But they didn't want to. They wanted to have a programme, they just couldn't imagine, or the Minister and the Taoiseach, whoever knew about it, the whole machinery was moving in that direction. But they could have said "No, no". I mean ... I don't want to ... there are other countries where we have seen lengthy debates - when somebody says I think there will be a programme and other people say there won't be a programme, there will be an agreement, there won't be an agreement, this person thinks there will, that person thinks there won't - going on for months and months. So, I don't think if the ... if ... supposing the troika had said ... had suddenly presented a new demand, and you had already heard from I think Kevin Cardiff's evidence of suggestions in the background, that other things might have come into play ... I don't want to talk about but he's mentioned ... supposing that had come onto the table? I think the Government would have said, "This is not what we're in for here, no, no, back away; we're not doing this."

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