Oireachtas Joint and Select Committees

Wednesday, 8 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
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Chair, very finally, can I ask to put up on screen the note of a telephone conversation you had with Gordon Brown, the British Prime Minister? I have given the reference already. So this was on 30 September. So later on in the day after the guarantee had been announced, this is a memo by Dermot McCarthy of a conversation you had with Gordon Brown and it would appear to have been quite a difficult tense conversation. But, Mr. Cowen, can you confirm what was his essential point to you in that conversation? And was he looking for you to extend the guarantee to UK banks with operations in Ireland?