Saturday 3 December 2016

Kevin Cardiff's evidence: Key points

Published 19/06/2015 | 02:30

Kevin Cardiff
Kevin Cardiff

Kevin Cardiff's evidence was among the most detailed given to the Bank Inquiry to date. Here are some of the key statements he made:

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Senior businessmen, bankers and a former finance minister lobbied for a guarantee throughout 2008.

AIB and Bank of Ireland did present a guarantee document on the night of September 29, 2008, and sought a broader guarantee than Government wanted to give.

Irish Life and Permanent was two days away from running out of cash at the time of the guarantee.

Cardiff and Lenihan both argued for Anglo nationalisation while Cowen favoured a broad approach on the night.

Lenihan later changed his mind, meaning Cardiff was last man standing for Anglo nationalisation.

Ireland was pushed "quite hard" into the 2010 Troika bailout by dark external forces.

Irish Independent

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