Oireachtas Joint and Select Committees

Wednesday, 30 June 2021

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

General Banking Matters: AIB

Photo of Bernard DurkanBernard Durkan (Kildare North, Fine Gael) | Oireachtas source

Dr. Hunt mentioned the losses that generate and cause the risk weighting in terms of what happened in the boom years. Why did that happen? There are answers to these questions. They have been asked before. Why did what happened here not happen in the rest of Europe to the same extent, given that we have a Central Bank which governs all lending and the activities of commercial and pillar banks? We also have the ECB, on the board of which sits representation from our Central Bank, I understand, something which did not exist at that time. Why were we so vulnerable in comparison to everybody else? Why did the horses take off with the carriage in the way that they did here as opposed to everywhere else?

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