Oireachtas Joint and Select Committees

Wednesday, 15 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Dermot McCarthy:

Okay, well, I don't recall the Minister saying anything in respect of communication directly from president Trichet on the night of the guarantee, put it that way, but there was a report from the Governor on his conversations with the ECB. Subsequently, particularly in the evolution of the banking strategy and then later again in the run-up to the bailout decision, certainly the Minister would have had a number of conversations with president Trichet, obviously, routinely in the ECOFIN context, and he would frequently have reported those, both formally to Government and more informally.