Oireachtas Joint and Select Committees

Thursday, 9 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Dr. Michael Somers:

Well, the inner circle was the Department of Finance, the Central Bank and sometimes the regulator. It wasn't clear the regulator was always part of the ... the inner circle because, I mean, I know, on that Sunday when we were sitting outside all day, the chairman of the regulator, Jim Farrell, was with us and he wasn't brought in either. It was the Department of Finance, the Central Bank, obviously the Government Ministers and the Attorney General. I mean, the Government Ministers ... well, it was the Taoiseach, Minister for Finance. Sometimes Minister Eamon Ryan would have been there as well and, as I say, the Attorney General. And ... but, I mean, I saw on occasion as well where the ... it was only the Governor of the Central Bank would be brought into meetings; his No. 2 wouldn't be included.

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