Oireachtas Joint and Select Committees
Thursday, 16 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Paul Gallagher:
I think that would have been a very difficult thing to do. The law at that stage was they ranked equally but I don't think that was even impinging on people's consideration because the view was taken - and governor Trichet had said "Save the banks" - and the view was taken that any wind-down, orderly or otherwise, would have a contagion effect that might not be capable of being controlled.
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