Oireachtas Joint and Select Committees

Thursday, 10 September 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of John Paul PhelanJohn Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

Thank you, Chairman. Good morning, Mr. Chopra. I've a lot of questions so we'll get into it. In your opening statement you state the following:

Ashoka Mody made an informal visit to Dublin in February 2009. That visit was the first time the staff raised the question of whether an IMF-supported financial arrangement might be useful to help smooth the inevitable adjustment facing the Irish economy.

When you refer to staff in the statement are you speaking just about the IMF? And with whom did they raise the question of whether an IMF-supported financial arrangement might be useful? And can you describe actually also what the reaction from the Irish side was?

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