Oireachtas Joint and Select Committees

Thursday, 9 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Kieran O'DonnellKieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

Welcome, Mr. Somers. Can you advise the rationale as to why Merrill Lynch were appointed on 24 September 2008 to advise on liquidity and strategic options available to the Government, given the proximity to the issuance of the guarantee just five days later? What was the critical factor that spurred Merrill Lynch's appointment? And what individuals or institutions made that decision?

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