Oireachtas Joint and Select Committees

Wednesday, 29 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Ciarán LynchCiarán Lynch (Cork South Central, Labour) | Oireachtas source

-----as must be every other person's testimony. Mr. Trichet is saying, when he came before ... when we met him in Kilmainham, he says, "[As] you know, we could [...] have continued on our side [...] having gone up to 100% of GDP [...] to 200% of GDP, [This is all the liquidity that was going into the banks after the guarantee] and why not 300% of GDP? [I can't do the French accent, so I'll just do the dramatics] Then what would [...] the Commission [of the] inquiry be asking for? You would say, "Were you totally crazy at the ECB to continue, when you were going [to] the wall at 100 miles [an] hour, to continue [providing] liquidity and liquidity and liquidity?"." So is Mr. Trichet right? Were we actually going into a bailout programme?

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