Oireachtas Joint and Select Committees

Wednesday, 8 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Brian Cowen:

Sorry, I take the point that ... sorry, one second, Deputy ... I take the point that it was a €70 billion contingency but, I mean, it had to be done. Were you going to say "we'll only cover €30 billion worth" and tell people, "take out half, we'll cover five grand's worth, or 50 grand's worth?" You know, you have to make the decision that we're standing behind the bank ... we're standing behind those deposits. If you don't do that, we're losing before we start.