Oireachtas Joint and Select Committees
Thursday, 9 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source
It's a technical question that I'm interested in and when ... and, again, I know that you weren't involved with the NTMA at the time when the Government sought a bailout or a programme of assistance from the troika. At the time there was certain newspapers internationally saying that we shouldn't panic in terms of the yields because there was a very low level of trading on the bond market and that the yields weren't reflective of what was actually really happening. So can I ask you, in that context, what was the size in terms of the volume of the trade on the Irish sovereign bond market during your time with the NTMA?
Was it ... how many trades involving Irish sovereign bonds would occur each day? In other words, was it, like, thousands, hundreds? Was it in the single digits? And if you have any indication beyond ... particularly during that period in the run-up to the troika coming here?
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