Thursday 8 December 2016

We have a lot to learn from Banking Inquiry

Published 29/01/2016 | 02:30

Taoiseach Enda Kenny hinted that he may consider holding another referendum to give Oireachtas committees more powers following the Banking Inquiry
Taoiseach Enda Kenny hinted that he may consider holding another referendum to give Oireachtas committees more powers following the Banking Inquiry

One of the more notable revelations from the Banking Inquiry was what the National Treasury Management Agency (NTMA) told the Government in March 2011. The State had the potential to save as much as €9bn by letting senior debt holders at the six Irish banks take a hit.

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In a written submission, the NTMA, advised how "immediate steps" could facilitate burden-sharing.

It was confident that the markets even factored a haircut on the bonds into their calculations.

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