Brian Lenihan Jnr (Dublin West, Fianna Fail)

The big risk the night of the guarantee was that if we did not guarantee this with the other institutions, we might well have set in train a systemic collapse of all of the institutions. That was something we had to take into account also. I am only dealing with that issue as an aside.

The core issue this afternoon is the question of the committee and what powers it should have.

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