Oireachtas Joint and Select Committees
Wednesday, 15 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. John Corrigan:
No. I mean, I was called in and I was asked certain questions. And I mean, the type of questions, which aren't recalled in my submission, was what would be the likely effect on Ireland's standing in the capital markets of going into an arrangement with the IMF and I expressed the view that there was a strong probability that we would end up, for example, in sub-investment grade and that we would struggle to get back into the markets. There were, sort of, discussions of those nature but as to whether the question of burden-sharing with the senior bondholders could be re-entered, that didn't come up. I was just told it was off the table, period.
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