Oireachtas Joint and Select Committees

Wednesday, 8 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Brian Cowen:

Well, it comes back to this point, it wasn't that did we do too much. It was a question of providing the reassurance to as many people as possible who, most of whom, I mean most ... the vast majority of individual deposits would be within that range. And they had worked that out as to what was the ... you know they had worked out how many people are we addressing here in the context of getting to €100,000. And ... because they looked I think at €80,000 and then €100,000. So they came to the considered view, "Look you need to get this to stop." People need to know that their banks, you know deposits are safe in their banking system. If ordinary people can't get that assurance, where are we going?