Results 6,241-6,260 of 27,019 for speaker:Michael Noonan
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: Well, I would think that the evaluation is quite good but the nature of the Irish civil servants ... Civil Service is that it's generalist and if you had to gear-up and have specialists for every eventuality, you'd have a lot of specialists who wouldn't be doing anything for a lot of the year who would be waiting for the specialist event to occur. So, if something requires specialisation, it...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: I was-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: I was surprised because I hadn't-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: I ... I ... there is ... what I said was ... to Deputy Higgins was I was surprised because it was unexpected. I had been figuring out how the conversation might go. I knew it was going to be a difficult conversation and the mention of the Irish financial services was unexpected. I did ... I hadn't reckoned that this would be mentioned, you know. I hadn't included it in the Government...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: I don't think so because if there was-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: If there was, it would have been in the ... it would have been in a memorandum if the advice was given. It would be an important-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: I discussed it later on.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: Well, I mean, they said, "You never know but if you default, there has ... there are unforeseen consequences which ...". I mean, I didn't need advice to tell me that. Once he mentioned it, I said, "You know, if you're trying to put pressure on me, you have come up with a good one", you know.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: Well, that was my first engagement with him on the burning of bondholders because, as was pointed out earlier, I took up office on 9 March and this was 31 March, so it wasn't a long lead-in time. I knew who he was but I hadn't met him previously. I think there was a meeting in Brussels where I would have met him.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: I met him subsequently on several occasions, I had different agendas to run. I was trying to get him to move on the promissory note. I was trying to get him to agree to increasing maturities on the official lending. I was trying to get him to take out the moral hazard imposition that put a premium on-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: No, I didn’t revisit it after that.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: Because I was ... now had moved my negotiation on to changing the promissory note and, as part of the promissory note, the bondholder issue was still in there. I hadn’t conceded ... I never agreed with Trichet. I never agreed with Trichet. I never told Trichet we wouldn’t go ahead. What we did was I made a statement in the Dáil and that was that we weren’t...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: No. The conversations I had with the Commission and with the ECB and with the IMF after that was that we could not continue paying €3.1 billion every March to service a promissory note arrangement-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: -----and that we needed it restructured, and that as part of the restructuring the issue of senior bondholders would have to be revisited.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: Yes, I read the comments made by Mr. Aynsley in the newspapers. I didn’t know what he was talking about. It sounded like dúirt bean liom go ndúirt bean léi to me.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: I mean, as I read it, it was that an official had a ... produced a minute of a conversation he had with an official in Finance who related to him that he had a view about something and that the Minister would support this view. I mean, I have no idea what the basis for that was. But certainly my view was that assets should have been sold all the way across the banking system for the highest...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: You started as Gaeilge so I thought I’d complement it by having something as Gaeilge myself.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: I don’t agree with the evidence that was given but I have never seen this e-mail or nobody has given me a copy of the e-mail and I don’t know what basis there is for it. But there’s a commission of inquiry to examine all these issues and let the commission of inquiry deal with it.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: I’m afraid I can’t help you on this.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Michael Noonan: It has nothing to do with me, I can assure you of that.