Oireachtas Joint and Select Committees
Wednesday, 21 January 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Mr. Klaus Regling:
I think he stated the problem correctly. He said that with hindsight it is always easy to say what went wrong and what went well. Importantly, he said certain instruments were not available at the time. In the past few years we have created a completely new system for bank resolution in the context of starting the banking union. Bail-in is one of the important elements that exists now but did not exist earlier.