Oireachtas Joint and Select Committees
Thursday, 23 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
John Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source
Yes, a brief supplementary. I've gone through the record of the Dáil from the debates that took place around the legislation surrounding the guarantee and you've referred earlier on to burning bondholders and insolvency issues. I haven't - now, it was me trying to ... after the first question that was asked, I think, by Deputy McGrath - been able to find any reference of you commenting on that during those debates, but I've one particular quote that I just want to put to you. "In the context of the Minister's failure to meet, in any way, legitimate requirements of the Opposition to protect the taxpayer [I think you were referencing the fact that he hadn't taken amendments on board] we are supporting him in bailing out some banks in order to protect the Irish financial system". Now, that ... you have referenced in your previous response that some banks had to be bailed out but earlier you did infer, I think, in some of your evidence that you had concerns when you were ... when the guarantee issue arose about insolvency-----
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