Oireachtas Joint and Select Committees
Thursday, 9 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Ciarán Lynch (Cork South Central, Labour) | Oireachtas source
And the other thing that Mr. Trichet said, when he was at that date, just to come back to that, he gave an analogy of how much liquidity the ECB were putting into Irish banks at the time and he went on to say, as you know, we could have also continued on our side having gone up to 100% of GDP, to 200% of GDP, and 300% GDP and then he refers to this inquiry carrying out an investigation in that regard and he says, "You [could] say, 'Were you totally crazy at the ECB to continue, when we were going in the wall at 100 mph, to continue to provide liquidity and liquidity and liquidity?'" Hearing that comment that day at the IIEA, and you were present there, was Mr. Trichet indicating or was ... presenting a situation that the cost of the bailout would have been bigger if it didn't happen at November 2010?
No comments