Results 6,161-6,180 of 27,019 for speaker:Michael Noonan
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: And then, when I went to Government again, I was given the authority to consult with the European authorities, and particularly with the ECB, to see if I could get their consent. So when I was drafting speeches then for going into the Dáil -----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: It was what you quoted there.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: Yes, whatever senior bonds were in Anglo at the time.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: Yes, yes. I read it one time.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: Well, I mean, I can, but what I would like to do first is, if you will permit me, Chairman-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: I'd like to give you the Government decision.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: Because I think it is a better opening position to actually read the Government decision into the record. And then I'll take all the questions, including the one you've just put to me, if that's all right.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: So, it was the Cabinet meeting to which you referred, and this is a letter to my private secretary from the secretary to the Government, which is the way decisions are communicated around Government Departments. So it says: I am to refer to the memorandum dated 29 March, 2011, submitted by the Minister for Finance concerning Banking Matters and to inform you that, at a meeting held today,...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: What happened then was that the word got out at Frankfurt that we were thinking of doing this. The statement you read out there I had in my first or in one of the drafts of the speech ... in the draft that I was about to deliver to Dáil Éireann on 31 March. And you'll note it particularly said that I would introduce legislation to achieve the purpose of bond burning. That was...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: I think you'll be interested in the way it went after that. I said well, I was still burning bondholders and it was Government ... I had the authority of the Government to do so and he raised the question of the financial services industry in Ireland, and particularly in Dublin, and he suggested that even though he couldn't say categorically, it might not be possible for people in the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: Mr. Trichet. He sounded irate but maybe he wasn't irate but that's the way he sounded and he said if you do that, a bomb will go off and it won't be here, it'll be in Dublin. I know when he gave his evidence - extramural evidence - here or to the, you know, where ... the speech he made, he says he's no-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: I'm not absolutely certain whether it was the first or second phone call.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: Oh, it was said to me, yes, and I think it was the second phone call.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: Because there were two phone calls.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: I understand the Taoiseach-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: I understand the Taoiseach also spoke to him and, I mean, the message was the same but I would think I had a more detailed conversation.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: But, I mean, n there were three issues that were recited to me. First of all, we'd be in default. I knew the implication of that for ELA although he didn't spell that out although he had previously spelled it out in different circumstances to Brian Lenihan back in 2010 because I saw the correspondence. Then he, kind of ... he rattled me because I didn't expect it. He drew the Irish...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: I made ... I had some conversations with my key staff and I decided to advise the Taoiseach that the risk was too high for the amount of gain that was involved and I changed my script and did not promise burden-sharing in the Dáil but went ahead with the restructuring of the banks on the basis of two pillar banks.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: No, there wasn't time. The Dáil was scheduled ... this was ... I mean, the reason I was late for the Dáil was we were re-doing a page of the script. You'll have remembered that I was rather breathless when I got across. To get across to you, I had to run but I would say that it was down-to-the-line stuff, you know but that's the way a lot of the bailout had been. It's very...