Banking Inquiry: Call to senior economist for advice confirmed

Brian Cowen called a senior economist who took part in a golf excursion with him and Anglo Irish directors for advice on the night of the bank guarantee – the only external expert who was asked for their opinion.

The former Fianna Fáil leader confirmed the phone call took place just as the prospect of a bank guarantee was being debated on September 29, 2008, but insisted he was never lobbied to force through the measure.

Speaking during his second Oireachtas bank inquiry meeting, Mr Cowen confirmed he contacted Central Bank director and economist Alan Gray as cabinet debate raged over the guarantee plan.