Oireachtas Joint and Select Committees

Wednesday, 1 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Charlie McCreevy:

Yes, I ... about ... and the question about the SSIAs. Well, now, let's look at it like this now, about buying an election with that. I announced that for 2001. And people could sign up from I think 1 May 2001 to 30 April 2002. Now, I like credit as much as the next man, and to be given great credit for winning elections, I wouldn't be adverse to great commentary about this. But, since 1969, the same Government had not been re-elected on any occasion.

So, this brilliance of mine, of the SSIA ... I was going to be able to ... even though I was taking the money out of people's pockets for putting aside, it was going to win the 2002 election for us, which ... and bring back the same Administration, which hadn't been done for the previous 30 odd years, and I was going to be able to look forward into my crystal ball to see we'll win the following election as well, because the following election people will be getting this particular money in their back pocket. Now, much and all ... and, great and all, as I am, Deputy, and the great sage which I know I am, and which I ... well, I'm sure you'll give testament to yourself, I didn't plan it like that. It just wasn't like that. And any sane, sensible person that looks forward and says, we'll bring it in a budget, asking for the savings, before an election, which was going to come up anyway, he was going to win that election ... he was sure he was going to win that one, but not alone was he going to win that one after 33 years for the first time, he was going to win in five years' time as well. I'm not that much of a genius.

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