Oireachtas Joint and Select Committees

Thursday, 14 December 2017

Public Accounts Committee

2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation

9:00 am

Photo of David CullinaneDavid Cullinane (Waterford, Sinn Fein) | Oireachtas source

Of course not. Those companies went to the wall because that is what happens. They went to the wall and they were not bailed out by the State. People lost their jobs and people who invested in those companies lost. However, a different attitude was taken to the banks. It goes back to something Mr. Carville said earlier when asked the logic of this. He said he shuddered to think what would have happened had we not bailed out the banks. Of the €66.8 billion of the gross cost of capitalising the banks, how much of that was Anglo debt, or what would now be IBRC?

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