Oireachtas Joint and Select Committees
Thursday, 16 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Paul Gallagher:
Thankfully, that didn't raise a legal issue, but it raised a very, very serious issue, and, my concern was very focused on ensuring that so far as the legal issues were concerned, that we could deliver what was required, namely, the legal validity of the guarantee that had been decided upon by the Government. And, therefore, the focus was very much on ensuring that we got state aid approval, because this was absolutely vital. But it wasn't a legal issue, as such, that would have arisen if it hadn't been approved, but a very serious policy issue would have arisen at that stage.
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