Oireachtas Joint and Select Committees

Wednesday, 8 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Ciarán LynchCiarán Lynch (Cork South Central, Labour)
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I'm now moving to wrapping things up. I'm going to invite Deputy Doherty and then Senator O'Keeffe in. I just want to ask one question in terms of recommendations and the final report that we'd be working towards, Mr. Cowen. And that is on the situation of Anglo and maybe you offering a view as to when would have been the optimum time to intervene in some way, whether with Anglo Irish Bank, considering that it was a main issue in September 2008, and one of the motivations for the banks to be seeking to meet with you, that in that regard, and bearing in mind that no bank was lending to it later in the year, and bearing in mind that the share price had actually been wiped out, when would be the optimum time for the Department of Finance and Government have been to make an earlier intervention and an intervention of what type with Anglo?