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 Catherine ConnollyCatherine Connolly (Galway West, Independent) | Oireachtas source

It is like Monopoly. I have often used the phrase Monopoly money here. The State did not save that bank. It was a basket case. It was not saved. Is it not the case that what we did was to put money in a circular movement from taxpayers, through the Government, to pay off creditors, bondholders, unsecured bondholders and so on? They were too big to let fail.

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