Oireachtas Joint and Select Committees
Thursday, 16 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Paul Gallagher:
No, there was no, well ... sorry, there was no specific discussion about significant debtors. There was, of course, the realisation that if you give a guarantee, you have an exposure. But the belief was that these banks were solvent. It was hoped that this would solve the liquidity situation, and it was hoped that there wouldn't be a call on the guarantee. But, of course, that risk couldn't be excluded.
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