Oireachtas Joint and Select Committees
Wednesday, 15 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Sean Barrett (Independent) | Oireachtas source
Thank you very much. Could I look at Vol. 2 of your own book, Mr. McCarthy, on page 89? What it refers to, Chairman, is a reply to Mr. Trichet in two lines, "I wish to acknowledge receipt of your letter and enclosure of 16 October [2008] which will be brought to the Taoiseach's attention as soon as possible." And the date of that non-response, if you like, or just acknowledgement, is 30 October. And when you turn over the page, Mr. Trichet was making suggestions like the ECB opinion notes that, "I am writing to request that the Irish Government arrange that interbank deposits with a maturity of up to three months be excluded from the liabilities covered under the draft scheme." What was happening? There was such a delay in reply. He was our paymaster and he was making a suggestion which would have saved us money. And we said, "Yeah, we got your letter a fortnight ago." When did we actually reply to Mr. Trichet in that correspondence?
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