Oireachtas Joint and Select Committees
Wednesday, 8 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Brian Cowen:
No, I don't accept that. As I've said to you, I was in a devaluation ... I was in the Cabinet one time when they did the devaluation. I wasn't Minister for Finance thankfully, although it was successfully done, but the then Taoiseach, Albert Reynolds, and Bertie Ahern, I'd say, were the only two who knew around the Cabinet table when that decision was going to be taken, and made it. And there are good reasons why that was done in that way. The Cabinet were there when it was made but it was being made, it was sort of ready to go at that point. Now, that wasn't the same situation here. I'm not suggesting you'll have that level of secrecy in this situation but there was a miscommunication, there was a miscommunication that happened, and as Head of the Government I should take responsibility for that.
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