Oireachtas Joint and Select Committees

Thursday, 10 September 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Marco Buti:

-----and we constantly talk together. And it was very clear, in the discussion within the troika, what the position of the ECB was. Us ... we, I think, appreciated that position and, as I indicated, it was not so much for us to say. But the ECB was trusted not only because of their prerogatives and, you know, institutional duties but also because more than the other two components of the troika had the pulse of the market. So when the ECB comes forward and indicates that there is a very substantial risk of dramatic spillovers coming from certain decisions, that cannot be belittled. And if we come to the benefit of doubt, I give the benefit of doubt the ECB.

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