Oireachtas Joint and Select Committees

Wednesday, 15 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. John Corrigan:

Well, I can't comment on the first one, Senator, because I ... I wasn't there. I ... if the Taoiseach says the position of the NTMA was represented, well then I take that to be the case, but I can't confirm it to you, which is the question you're asking me. On the second question, we had doubts about the sustainability of the debt under the programme. But, again, the programme was the only show in town. It was ... it was borderline, in our view, but, again, we recommended it on the basis that it was worthwhile going for. But, as I said to Deputy Murphy, then the subsequent concessions made in the form of the interest reductions and so on and so forth copperfastened the sustainability. But absent those, we could be having a different discussion today, I don't know.

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