Oireachtas Joint and Select Committees

Thursday, 10 September 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Marco Buti:

On the specific issue, I think what I must convey ... I must have conveyed that time, so I don't deny that. I cannot recall precisely, but I am sure if it has been reported by Mr. Cardiff, I must have done it. What I did at the time was to convey the view of a number of member states which were, let's say, vocal, also in public I believe, on the fact that as they were getting into a programme helping Ireland, they considered it to be unfair tax competition coming from the very low corporate rates. So it was not, and here I'm formal, it was not the preference of the Commission, it was not my own preference, it was making them aware of the fact that the view in some member states in the euro area, this was an issue that could come up.

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