Results 16,781-16,800 of 26,086 for speaker:Kieran O'Donnell

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Kieran O'Donnell: How do you define increasing pressure on the political system? How do you define that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Kieran O'Donnell: Why suddenly did you have pressure on the political system in '05 and '06 and you didn't appear to have it in '03 and '04?

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Kieran O'Donnell: But why didn't you bring those in in '05 and '06?

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Kieran O'Donnell: Why not? But you see, for the ordinary person looking in you had the credit growth rate in those years between '04, '04 and '05, the ... dare I say it, the credit growth was ablaze like a burning fire. So, what I'm trying to understand, and for the ordinary person out there is, how do we suddenly come to a situation were you had budgets in '03 and '04 that were conservative budgets-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Kieran O'Donnell: -----and then '05 and '06, you need to explain the process. And did you have reservations about your budgets in '05 and '06?

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Kieran O'Donnell: I didn't ask that question-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Kieran O'Donnell: And final supplementary, in the property schemes that were in place, they were supposed to finish at the end of 2004. You were general secretary over that period, they were extended for another four years, right, up to 31 July 2008.

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Kieran O'Donnell: 31 July 2008. So, the question I'm asking you is, did you, as general secretary of the Department, stand over those pushing out of the deadline dates on an annual basis? Did you stand over that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Kieran O'Donnell: Chairman, can I just-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Kieran O'Donnell: No, no but Chairman, this-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Kieran O'Donnell: Okay, in the budget 2004, well before this report was ever commissioned, the incentives were extended for another two years to 31 July '06. So it, they were extended for a further two years before this report. So why didn't you look for report to be commissioned in 2003 before the schemes were finished in 2004, would be, would strike anyone looking in as maybe, would you not think as being,...

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Kieran O'Donnell: Thanks, Chairman. Welcome, Mr. Doyle. Mr. Doyle, I want to, Chairman, make reference to document Vol. 2, page 27, and also the Department of Finance, Vol. 2, page 114.

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Kieran O'Donnell: Sorry?

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Kieran O'Donnell: Yes, yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Kieran O'Donnell: Department of Finance document is a document from Merrill Lynch ... memorandum from Merrill Lynch, Sunday 28 September.

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Kieran O'Donnell: They're related, Mr.-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Kieran O'Donnell: Sorry?

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Kieran O'Donnell: That's on ... Vol. 2, Department of Finance. They're both Vol. 2, one Department of Finance, page 114, and one Vol. 2, David Doyle, yourself, page 27. And the question, I suppose, I have, Mr. Doyle, is, when you've got it-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Kieran O'Donnell: You've made reference to everyone else stating that the banks were solvent on the night. Do you believe, based on ... do you believe that the banks were solvent on the night of the guarantee? And, more particularly, I want to draw reference to a ... a memorandum from the 25th, page 27, where you say "D Doyle noted that Government would need a good idea of the potential loss exposures within...

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Kieran O'Donnell: Yes. Well I-----