Results 4,001-4,020 of 7,082 for speaker:John Paul Phelan

Civil Debt (Procedures) Bill 2015: Second Stage (3 Jul 2015)

John Paul Phelan: I note that Deputy Bernard J. Durkan has a huge script from which he will no doubt make his contribution. I welcome the opportunity to support the Bill. I did not hear much of Deputy Mick Wallace's contribution, but I listened to most of the other speakers in the debate. During my time as a Member of the Oireachtas which has been longer than I care to remember at this juncture the...

Written Answers — Department of Public Expenditure and Reform: Cross-Border Co-operation (7 Jul 2015)

John Paul Phelan: 157. To ask the Minister for Public Expenditure and Reform his plans to ensure that adequate and equivalent funding is available to inland counties not covered by the Ireland-Wales INTERREG programme for the period 2014 to 2020; and if he will make a statement on the matter. [27411/15]

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: Thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: One more and then the wrap-up.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: Thank you, Chair. Briefly at the start, Mr. Cowen, and you're welcome back, I want to refer to scenario 3 again on that document which we just had up, which is Vol. 4 of your core documents, page 16 ... the bottom of page 16. You have - today and the last day - outlined that you placed, I suppose, trust in the position of the Financial Regulator. And this is a document that was prepared...

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: I understand that.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: Do you accept - and I'm not trying to ... but my time is running out-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: -----that there was a warning-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: I have a lot of questions that I want to get through ... that there was a warning there from the Department at ... in January 2008 while you were still the Minister for Finance to question, at least, the advice you were getting from the regulator. I understand the argument you're making that these people were in positions of responsibility and you had faith in them-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: Okay-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: But, again, I'm just going to refer - this is my final question on this - this evidence which is in front of me, which was presented to you by your Department; or you were involved in discussions around it, in January 2008, which specifically spelled out that you should adopt a more circumspect approach to the advice you were getting from the regulator. Do you-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: Thank you. I want to turn now to Vol. 2 of the core booklets, at page 66. It's a letter from Mr. Alan Gray to Kevin Cardiff on 25 September 2008.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: It's in Mr. Cowen's document, Vol. 2, page 66 ... letter, 25 September ... it's an unusual letter, I think it's fair to say. There's an extensive PS at the end of it which I have rarely seen in such documents. But, Mr. Gray wrote to Mr. Cardiff advocating a guarantee and strongly opposing nationalisation in the subsequent ... there's a two-page document attached to that particular letter....

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: He outlines a series of-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: Not quite. Now, in fairness-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: He outlines the options-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: -----and, as you will see, one option gets significantly more attention than all the others. It's very clear from ... the State guarantee of all loans and banks incorporated in Ireland gets-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: -----twice as much as all the rest of them do.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: I think today is the first statement by you that he was the last person that you did speak to before the final decision was made on the ... in that phone call. If he had given you other advice on that particular evening, you know, would that have had a ... would that have lead to a different result?

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: There's a slight difference. He gave his opinion of that conversation to The Irish Timesin 4 January 2011. You stated today that you asked him what he thought of the guarantee option being used. He stated that you rang him to obtain his views, as a director of the Central Bank, on likely market reaction'. They are not quite the same.