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Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joan Burton: -----as a party.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joan Burton: Well, we now have a reformed system where receipts of benefits-in-kind, or, indeed, of funding had to be disclosed-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joan Burton: I wasn't the leader of the Labour Party at the time when the committee was being established, Deputy, as you possibly are aware.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joan Burton: So I, therefore-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joan Burton: ----- wasn't involved in discussion-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joan Burton: -----in relation to the make-up of the committee. I'm just very pleased that all of the parties are represented-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joan Burton: -----and that people like yourself are working so hard-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joan Burton: -----and working themselves up so hard on the matter.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joan Burton: My answer is ... and I wasn't involved in any discussions in relation to this committee. I wasn't the leader of the Labour Party at that time. You'd have to ask my predecessor about that.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joan Burton: No, I've given my answers.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joan Burton: There were not inter-party discussions, Deputy, about the decisions to be made by the different parties, for the reason that the guarantee happened overnight and during the night. And I think people woke up to hear it being announced on RTE on the morning and there was considerable astonishment, shock, dismay. I think all of the parties, and certainly in the Labour Party, we were invited to...

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joan Burton: Yes?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joan Burton: Not, not formally-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joan Burton: -----not formally. But there were very long periods in the House when there were conversations between Deputies from all sides of the House, because people were, obviously, extremely worried and exercised by what had befallen the country. Now, at that time in terms of Fianna Fáil and in terms of the Government's presentation, it was to be the cheapest bank guarantee in the world.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joan Burton: The Kenny report was a proposal to cap the ... to cap the price of building land. And I was a member of Dublin County Council where most of the development in the country was taking place. The rainbow Government took over ... sorry, when Labour went into government in 1992, there ... the economy was in a very, very difficult place and there was not an agreement with either Fianna Fáil...

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joan Burton: -----between the parties.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joan Burton: Well, I wasn't a negotiator in that particular set of negotiations for either of those Governments but that was my general understanding. It was a Labour point of view, which the Labour Party returned to and brought forward legislation in the House in 2003. Deputy Gilmore did that.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joan Burton: So it was a-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joan Burton: -----widely held belief by the------

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joan Burton: Well, it was a situation where if ... when, on joining the Oireachtas, somebody had previous experience in that area, for instance, some, perhaps, some college education in relation to economics and so on, or had other, say, work experience in relation to different fields. After that, to be honest, Deputy Higgins, in ... certainly, in 2002, although I was the spokesperson for the Labour Party...

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