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Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Kieran O'Donnell: There were two latter points: the major obstacle encounters and-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Kieran O'Donnell: And ... or do you believe there are further opportunities, or at this stage has all been exhausted?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Kieran O'Donnell: Currently.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Kieran O'Donnell: So you see no further scope?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Kieran O'Donnell: Can I lead into the promissory note?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Kieran O'Donnell: But that would be in the normal course of business for a Government rather than a programme.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Kieran O'Donnell: In the limited time I have, Minister, can I just lead into the "pro notes", the promissory notes, and the two points I might refer to are Vol. 1, page 3 and then Vol. 1, page 31. Vol. 1, page 3, Minister, is the ... it looks to me like ... it's an EMC memo around ... dated 10 October 2012 around the idea of the pro note. And it speaks about a 40-year Government bond should be acceptable to...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Kieran O'Donnell: Yes. Interest would come back to the State circle.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Kieran O'Donnell: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Kieran O'Donnell: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Kieran O'Donnell: And how long do you anticipate, Minister, that-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Kieran O'Donnell: Maturities.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Kieran O'Donnell: Yes, that's all in the schedule.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Kieran O'Donnell: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Kieran O'Donnell: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Kieran O'Donnell: Fine.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Kieran O'Donnell: But the main programmes-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Kieran O'Donnell: Fine.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Kieran O'Donnell: How far advanced is the schedule at this time, Minister?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)

Kieran O'Donnell: A bit like Deputy McGrath, it was a long answer but worth waiting for. Minister, can I deal with the whole issue ... Professor Honohan, when he was before us, he stated that I think it's remarkable ... punishment for bankers ... it's remarkable, first of all, how long it takes, how heavy the procedures are and how light the consequences. Do you believe that the legal ... I suppose, the...

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