Oireachtas Joint and Select Committees

Thursday, 10 September 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Marco Buti:

No, what I am saying is that, with hindsight, it was, indeed, very generous, possibly too generous. At the same time, I acknowledge that those who had to make that judgment in those life-threatening conditions, I think, had possibly good justification for being very risk averse. What we can see, clearly, is that the blanket guarantee intertwined the fate of the banking system and the fate of the public finances in a way which was a perverse one.

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