Oireachtas Joint and Select Committees
Thursday, 16 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source
Can I ask you what would have happened ... so there's a lot of focus in terms of the night of the guarantee, 29 September, 30 October, and now we have that it was actually one month later where they were legally covered by the guarantee. So what possibly could happen in terms of law if the Minister decided in that four weeks that, "Look, I think this is a bad idea, there may be more loan losses", or whatever, and decided we're not proceeding with that? Would the banks have a call, given that the Government made a commitment, a political commitment to introduce this?
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