Oireachtas Joint and Select Committees

Wednesday, 2 September 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Michael Walsh:

I absolutely do and I think, you know, the reality is there is a very clear e-mail which is, as I say, the one that went from - or was forwarded from - Mr. McDonagh to the Department of Finance which sets out very clearly that the society has €3 billion of cash, that the outflows at that point in time were €30 million and that in the context of where they were that night, the society ... there may be a need, I think, in his words - I have them somewhere there in the e-mail - there may be a need to have a contingency plan for December 2008 but equally well, it may not be necessary.

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