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
Mr. Des Carville:
I will use an example. I am sure Mr. Ross will not mind me noting this but he has made other investments in the banking space in other parts of Europe that have not been as successful. The point I am making is that investments in equities are inherently risky. I remember in 2011 when the Fairfax consortium, including Wilbur Ross, invested in the country. That was a seminal moment. When we look back and the history of that decade is written, the moment when he and his co-investors took a risk will be regarded as a seminal moment for Ireland. That is when the tide started turning. That was the moment.
No comments