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Joint Oireachtas Committee on Rural and Community Development: Western Development Commission: Chairperson-Designate (27 Jun 2018)

Rose Conway Walsh: I have a lot of other questions but I know other members need the time.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Promissory Note Bonds: Discussion (28 Jun 2018)

Rose Conway Walsh: I commend the witnesses for the work they have done over the years. What is Mr. O'Flynn's background?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Promissory Note Bonds: Discussion (28 Jun 2018)

Rose Conway Walsh: I do not want to go into every detail. Is it in finance or economics?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Promissory Note Bonds: Discussion (28 Jun 2018)

Rose Conway Walsh: I completely agree with Mr. O'Flynn on that. His campaign is a demonstration of what people achieve when they have passion and purpose. I commend Mr. O'Flynn in that regard. The European Central Bank has stated this issue could be tackled, but that it would be very difficult to do so. Does Mr. O'Flynn have that in writing? Did he say he had a report?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Promissory Note Bonds: Discussion (28 Jun 2018)

Rose Conway Walsh: It was within the ECB that the official asked that their names not be mentioned.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Promissory Note Bonds: Discussion (28 Jun 2018)

Rose Conway Walsh: Was the meeting minuted? Does Mr. O'Flynn have a note on it?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Promissory Note Bonds: Discussion (28 Jun 2018)

Rose Conway Walsh: Does Mr. O'Flynn have the minutes of any of the meetings either with the Central Bank or-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Promissory Note Bonds: Discussion (28 Jun 2018)

Rose Conway Walsh: Yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Promissory Note Bonds: Discussion (28 Jun 2018)

Rose Conway Walsh: Mr. O'Flynn has a note of it. We are completely supportive as a cross-party committee on the issue, something Mr. O'Flynn has sought. He has said he obtained legal advice on it and believes it can be challenged in terms of the legalities. From where did he receive that legal advice?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Promissory Note Bonds: Discussion (28 Jun 2018)

Rose Conway Walsh: Mr. O'Flynn mentioned a Supreme Court case.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Promissory Note Bonds: Discussion (28 Jun 2018)

Rose Conway Walsh: Which Supreme Court is it?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Promissory Note Bonds: Discussion (28 Jun 2018)

Rose Conway Walsh: Does Mr. O'Flynn believe the same could happen again? Has any mechanism been put in place to prevent the same thing from happening again in the issuing of promissory notes? There are major external threats in the case of Italy, in respect of a trade war and Brexit, while there is over-inflation when it comes to property. Could we find ourselves in a similar position again?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Promissory Note Bonds: Discussion (28 Jun 2018)

Rose Conway Walsh: Exactly.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Promissory Note Bonds: Discussion (28 Jun 2018)

Rose Conway Walsh: Does Mr. O'Flynn believe anything has changed in the culture of the banks?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Promissory Note Bonds: Discussion (28 Jun 2018)

Rose Conway Walsh: They have had tax free concessions for decades.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: EBS Tied Agents: Discussion (28 Jun 2018)

Rose Conway Walsh: I thank Mr. Kavanagh for his presentation. I agree with the Chairman that to do further scrutiny we would need supporting documentation. When did the agents move to commission work? Was it prior to EBS becoming State owned or previous to that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: EBS Tied Agents: Discussion (28 Jun 2018)

Rose Conway Walsh: Does Mr. Kavanagh have documentation to support that instruction and his response to it?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: EBS Tied Agents: Discussion (28 Jun 2018)

Rose Conway Walsh: On the incentive schemes, am I correct that Mr. Kavanagh is saying pressure was put on the agents to sell consumers products that were not suitable for them?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: EBS Tied Agents: Discussion (28 Jun 2018)

Rose Conway Walsh: Did everybody comply?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: EBS Tied Agents: Discussion (28 Jun 2018)

Rose Conway Walsh: In what way were they intimidated?

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