Oireachtas Joint and Select Committees

Wednesday, 29 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Alan Merriman:

No, I mean, look, clearly there was, you know, ongoing discussions on a continuous basis about what was happening in the marketplace. I, personally, would have attended quite a lot of meetings down in the Central Bank and the regulator discussing what was happening in the markets, discussing the strains, sharing intelligence, etc., etc. So, clearly, this was all done very much in a context and, clearly, there was sense in the markets - all the treasury departments would be very well interconnected - that there was a real strain. So was it a shock when we heard what had happened and the proposed solution? No, it wasn't a shock, but it wasn't something that we were party to in any central way.

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