Oireachtas Joint and Select Committees
Wednesday, 22 April 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Michael D'Arcy (Fine Gael)
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The bank guarantee, we were informed, would be the cheapest in history. We were told €4 million to €5 million; the expectation was NAMA would have a write-down of less than 30%, it was double that. Did the bank guarantee and then the establishment of NAMA with the crystallisation of the losses to the banks, did that lead to the national bailout in your view, Mr. Daly?