Oireachtas Joint and Select Committees

Thursday, 9 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Dr. Michael Somers:

Well, I would have thought so. I mean, they ... our attitude was, we have this money, we've placed it with the Central Bank. You, Central Bank, if you want to, you can use it to fund banks, you know. "Why are you looking for us to use it to fund banks? Have you not got confidence? Why don't you go and do it yourselves?" So, that was basically our line. And we also felt that they were the lender of last resort, they were part of the ECB, and they should be able to get whatever cash they needed.

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