Oireachtas Joint and Select Committees

Wednesday, 1 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of John Paul PhelanJohn Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

Okay. Can I ask you now again ... and I don't want to re-cover ground that's been already covered but there's a question that I must ask you in relation to the analysis and due diligence that was carried out on .... to identify the amount of €3.5 billion in capital for AIB and Bank of Ireland in February 2009. Why did the Government proceed with this amount for AIB given that it was clearly outlined that this amount was insufficient to meet their capital needs, with AIB ultimately requiring in excess of €20 billion?

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