Oireachtas Joint and Select Committees
Thursday, 25 June 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Professor Patrick Honohan:
So that's a very interesting point. We were very ... so I know this issue arose in the context of some other potential advisers to us around that programme where some firm said, "Well, we could help you on this, but we want to have your assurance that you will not block us from buying into this stuff." We were very open about what we found in the different banks; the financial measures programme document was very, very open and explicit. So any advantage that they might have had ... I actually ... you're putting this to me now, but it's ... all I'll say is that there was nothing in the contract preventing them from doing that, and we chose that company because we had to choose very quickly It was strongly recommended to us by the troika is what I understand. I didn't have that direct experience but senior colleagues were strongly recommending that company. I knew from my previous discussions with others that it came as reputable. There are separations. There's a consultancy and there's a fund management, so-----
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