Oireachtas Joint and Select Committees

Wednesday, 15 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Very finally, the Deauville declaration - you made reference to it in your witness statement - of October 2010. Given Ireland had been borrowing on the markets up to the early part of September 2010 at reasonable rates, 4% to 5%, what impact did the Deauville declaration have when this issue of burden-sharing was floated, what impact did that have on Irish yields and-----

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