Oireachtas Joint and Select Committees
Thursday, 30 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Mike Aynsley:
No, and this was always a point of conflict, and this is where we ... we always took the view that we had a situation with the relationship framework, with the requirements under the commitments letter, where we needed to act commercially and the Minister's role was to intervene in areas where there was a clear public interest in doing so, but the commercial aspects of the transaction, if there wasn't a public interest ... a true public interest perspective, then the commercial aspects needed to be pursued. And we did that. Now, we also recognised that if the Minister wanted us to act differently, then the Department officials and the Minister could organise for a ministerial instruction to provide us with the cover to do that.
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