Results 18,641-18,660 of 26,148 for speaker:Kieran O'Donnell
- Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)
Kieran O'Donnell: With hindsight, is it a fair comment to make that at the time of the guarantee being put in place, both Anglo Irish Bank and the Irish Nationwide Building Society were insolvent?
- Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)
Kieran O'Donnell: The point I am making is that one of Professor Lane's areas of expertise is in European monetary union policy. Is it a fact that the ECB was sending funding directly to the banks? It was not extending funding to the Irish Government, but to the banks. Was there not a duty of care on the ECB? As Professor Lane is probably well aware, ELA funding cannot be extended if the banks are insolvent.
- Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)
Kieran O'Donnell: Professor Lane's area of expertise is European monetary policy.
- Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)
Kieran O'Donnell: So, if the ECB was extending ELA funding-----
- Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)
Kieran O'Donnell: It extends that funding under the umbrella of the European Central Bank.
- Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)
Kieran O'Donnell: In Professor Lane's opinion as an expert in this area, if we were applying standards to the Irish Central Bank in terms of regulation of the banks, would the ECB under its governance rules have been required to do due diligence and check that the banks were solvent before, in effect, agreeing to ELA funding being put into them?
- Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)
Kieran O'Donnell: I have just one final question.
- Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)
Kieran O'Donnell: Let us go back. As a committee, it is obviously of interest that Brian Lenihan is no longer with us. Professor Lane was party to discussions with Brian Lenihan and the current Governor, Professor Honohan, in the summer and December of 2008. Am I correct in that?
- Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)
Kieran O'Donnell: Going back to Professor Lane's June 2008 meeting-----
- Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)
Kieran O'Donnell: I will be brief. At that meeting, what was the subject of discussion?
- Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)
Kieran O'Donnell: Who looked for the meeting?
- Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)
Kieran O'Donnell: Did the former Minister look for the meeting with Professors Lane and Honohan-----
- Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)
Kieran O'Donnell: -----or did they look for it? He looked for the meeting with them.
- Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)
Kieran O'Donnell: Was banking discussed at all?
- Topical Issue Debate: Airport Landing Slots (20 Jan 2015)
Kieran O'Donnell: I thank the Minister for his response. He referred to preserving connectivity and the Heathrow slots. The 25.1% stake was retained in Aer Lingus by the State for that very purpose. He also stated, “Following a third hostile takeover bid for Aer Lingus by Ryanair, the Government indicated it would not be prepared to sell the shareholding in circumstances which could significantly...
- Topical Issue Debate: Airport Landing Slots (20 Jan 2015)
Kieran O'Donnell: I thank the Minister, Deputy Donohoe, for being present in the House for this matter. As we speak, discussions are ongoing between IAG and the Aer Lingus board in regard to a possible third bid. In that context, it is vital the Heathrow slots, particularly in terms of regional development at Shannon and Cork, are protected. The stakes are extremely high for Limerick and the mid-west, where...
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Kieran O'Donnell: I welcome the Governor, Professor Honohan. To revert to his opening statement this morning, he spoke about an alternative strategy, as distinct from the blanket guarantee. Had the guarantee been managed differently, would the Irish citizens now be on the hook for €40 billion, which is what the Governor has estimated to be the cost? As I find that to be an outstanding statement, the...
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Kieran O'Donnell: In that context, looking through your report, the first suggestion of guaranteeing dated subordinated debt - it was lower-tier, tier 2 - was when the banks came in on the night before, that appears to be the first place it was mentioned. It was not a part of the crisis management in terms of the options that were being looked at.
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Kieran O'Donnell: What was the reason given?
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Kieran O'Donnell: In your report and certainly in your presentation, you state that "external partners might have responded to such an idea with compromise proposals that might have alleviated subsequent pressure on the Irish Exchequer" if they had been properly consulted. Around the guarantee, from your investigations, were discussions held with the ECB?