Oireachtas Joint and Select Committees

Wednesday, 29 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Eugene Sheehy:

Well remember we have a guarantee eight days before already, a €100,000 guarantee, €200,000 for a kind of a household limit. So it wasn't ... this was to some degree an iteration of a series of steps that the State was trying to take to stabilise the situation. What we didn't know on the day when we went in was that there was an institution-specific problem which would have exacerbated and multiplied to a huge degree all the other problems we thought we had when we went into the meeting.