Oireachtas Joint and Select Committees
Wednesday, 8 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Brian Cowen:
I read that ... what he has said about that. I was the person who represented the country at that meeting. It wasn't an easy meeting for us, I suppose, because you know, we had to do what we had to do as others were doing their thing and they were afraid, I suppose, of the effect that this would have on their flows, you know, would Ireland suddenly become a location for funds to come to Ireland that would otherwise stay in country A, B or C or whatever it was. And I think that was an over-exaggerated view anyway. We were simply trying to retrieve what we had lost, we were not trying to take anyone else's resources or treasury, you know. We were trying to get back into a viable position ourselves from a liquidity point of view in terms of cash in the system. And we were a small part of the overall financial system in Europe anyway. So, I hear what he has to say about that, he obviously observed that from some of his official contacts in other jurisdictions. I don't think it was warranted, if that was their view.
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