Oireachtas Joint and Select Committees

Thursday, 25 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Professor Patrick Honohan:

Yes, it is a bit funny. So, I wrote at the end of July and I fully expected then in August ... early meeting to be pulled aside and you know, "What do you mean saying this?", this is, you know ... dead silence, which I took as good news, they must have figured this out themselves, this is no surprise in my letter. So I wrote another letter in ... in August. I shouldn't really be going into a lot of detail about communications within the Eurosystem, to some extent I'm writing on behalf of Ireland, of course, which is what allows me to talk about them at all. So I ... obviously I provided full information at the end of August again. Then, of course, I did get the response, the concern and the anxiety was starting to build there.