Oireachtas Joint and Select Committees

Thursday, 2 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Brian Cowen:

Well, I can't allow the continual misrepresentation that I'm extending schemes when what I'm doing is putting in transitional measures, which is the normal thing you do when you're bringing schemes to an end, Deputy. The schemes were brought to an end. There are pipeline projects where you need to have transitional arrangements. You are legally required to do that or you'll end up in the courts from those who are involved in those projects. So that's the reason why ... and the extension was in relation to a via mediabetween recommendations from the consultants themselves as to what the time lag should be, and it's totally ... totally defensible and totally logical.

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