Oireachtas Joint and Select Committees

Thursday, 9 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Dr. Michael Somers:

Well, we wouldn't have known about the accuracy of it. I mean, this would have been provided to ... well, we'd be sitting round a table and the figures would be provided generally by the Governor or the director general of the Central Bank who would tell us what ... whether money had flowed in or flowed out, and it was usually flowing out and the question was: is it going to continue or was there any good news? Is there any chance that this money might flow back in again? It was generally a discussion just about the liquidity of the banking system and how close they were to providing emergency liquidity. And there was always this spectre of the ECB in the background and I suppose at what stage would they get fed up with this and-----

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