Oireachtas Joint and Select Committees

Wednesday, 17 December 2014

Committee of Inquiry into the Banking Crisis

Context Phase

2:30 am

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
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What was the risk of all of that happening? What was the risk of those very serious consequences if at least one bank would not be able to meet its obligations the following day and the consequences of perhaps others banks not being able to open for business in the normal way? Based on Mr. Nyberg's assessment of what was known at the time, was there a reasonable likelihood of that risk materialising?