Oireachtas Joint and Select Committees

Wednesday, 6 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Cormac McCarthy:

At the time for... in certain occasions, that was how it felt Deputy, yes. Because we did not believe that the purpose of the guarantee was to be used as a marketing tool to harvest deposits. We believed that it was a protection mechanism and it was being used as a marketing tool to harvest deposits.