Results 4,221-4,240 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Marc MacSharry: And in terms of deposits, you went commercially wherever you felt safest and wherever you got the best return.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Marc MacSharry: And did that include other Irish banks like AIB and Bank of Ireland?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Marc MacSharry: Right. You said earlier on that the pressure for putting money into banks ... was, kind of, Central Bank and Department of Finance - more Department of Finance than Central Bank. Was there any sense of political pressure from the Taoiseach or the Minister or Cabinet or-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Marc MacSharry: I appreciate that they would have gone along with it but, I mean, did you feel ... was this a political agenda at all or was it just the Government saying, "Look, I met Anglo the other day. They need deposits, put some in".
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Marc MacSharry: When would that have been?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Marc MacSharry: Would it have been more August 2007 or August 2008?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Marc MacSharry: Of course, sorry.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Marc MacSharry: It was late enough in the day. So, you had been articulating a position where you had concerns for the safety of State funds if they were put into Anglo Irish Bank and that would have been summer 2008, say?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Marc MacSharry: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Marc MacSharry: But I'm thinking about this exchange in the Taoiseach's office ... with the Minister and the Taoiseach.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Marc MacSharry: Who was?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Marc MacSharry: Right.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Marc MacSharry: Just to finalise things, was there no system formally where the NTMA could raise concerns with the Central Bank, the Minister, the regulator and say, "Look, we have concerns about A, B or C", or did everyone stay within their pigeonhole?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Marc MacSharry: Just one very last one and it's on a different subject. Perhaps some of the other questioners can tease it out a bit better. You mentioned the day that we had Mr. Trichet over and I'm sure we were all conscious of the first name terms, kind of, introduction that you gave on that day. Having known him over the years, did he ever lift the phone during the crisis and say, "Dr. Michael, what...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: Thanks very much. And thanks very much, Mr. McCarthy, and sorry to have you here so late. Can I ask you, in the lead-up to the decision on the guarantee did you consult with any parties outside your Department such as the Central Bank, the NTMA, members of the IFSC clearing house, on the options that might be available to Government?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: In terms of Mr. Trichet, did Minister Lenihan advise you of any telephone conversations he ever had with Mr. Trichet, in particular regarding the burning of bondholders or burden-sharing? And, if so, can you advise on the contents of any discussions around that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: Well ... anything that you might think is pertinent, but certainly that.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: We might talk about the bailout period later but in terms of the guarantee itself, is it your understanding that there were clear communications perhaps, rather than phone calls as you've said? And did they always manifest themselves through the Governor? And thirdly, when the Governor spoke about such issues was it always understood to be the case that if the Governor spoke this was...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: Kevin Cardiff, in his witness statement, said that the National Recovery Plan 2011-2014 was finalised in time to be the main influence on major parts of the programme of assistance, and that the troika partners were happy to accept the four-year plan that had been developed in Ireland and to build on it. Can you elaborate on the substantive differences, if any, between the troika's position...