Oireachtas Joint and Select Committees

Thursday, 25 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Professor Patrick Honohan:

-----and Alan Dukes, of course. And I consider them to be quite able people and very motivated by the mandate they had been given by Brian Lenihan which is: turn this sow's ear into a silk purse; build an Irish business bank out of Anglo Irish Bank. That's what they were asked to do and that's what they came to do. They also had the recovery job, which was the biggest job, but from the very start of my job and I told Brian Lenihan, "I'm really not sure about this business bank idea." I felt that this was going nowhere. I think they were not going to be able to do it and that the brand was fatally damaged and that it should be taken out of the market as soon as it-----

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