Results 5,221-5,240 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Was it straightforward-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: People have reported that a member of the Cabinet saw it as the terms of humiliation----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Thank you, Chairman. Thank you, Mr. Cowen. Mr. Cowen, just about five minutes ago when speaking to the Chairman, and he was going through some graphs on the economic ... the economy, I suppose. No, no, it's okay. You said there was no budgetary strategy, no matter how prudent, that could have avoided the scale of the adjustment needed. Is that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: But did an imprudent budgetary strategy contribute to the scale of adjustment needed?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: I'm just trying to clarify that then. The budgets that were decided did contribute to the scale of the adjustment needed?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: And the move from pro-cyclical taxation from 12% to 30% from 2000 to 2006, was that prudent?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Just in relation to mistakes that were made in managing the crisis, and you said in paragraph 160 of your opening statement: "The slow process in transferring loans to NAMA in tranches played a role in undermining confidence in the banking system and the sovereign in general." So can we imply from that that there was a design fault within NAMA that led to the bailout?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Sorry, that's what I was going to ask you about ... you said knowledge denial, but co-operation. Was co-operation satisfactory for that process? Did that slow down the process?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: And, Kevin Cardiff, when he was here, suggested that making the 30% target, the haircut target, public, might have been a mistake. Would you agree it might have been a mistake, or was that a mistake?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Okay. And just, final question, and I'm sorry to come back to it, in terms of the burden-sharing in November 2010, but it's just to try and get some clarity on your view. Burden-sharing didn't happen. Was this because of the need to maintain market confidence in the banks in Ireland and Europe, or because the US and the G7 wanted to protect their own investments in Irish banks, in your view?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: It would protect other European countries?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Okay, thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Eoghan Murphy: Thank you, Chairman. Thank you, Mr. McDonagh, you're very welcome. I just wanted to clarify something initially in relation to a hypothetical that Deputy Doherty took you through, just to be certain of your views on the night of the guarantee, even though they weren't requested. If you had been asked into the room, and you had been asked by the Taoiseach, "We're thinking of guaranteeing...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Eoghan Murphy: But would you have used that word?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Eoghan Murphy: Okay. And if you had then ... if it had then been put to you, "Well, the Financial Regulator or the Central Bank have certified their solvency", what would you have said to that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Eoghan Murphy: Okay, well then just coming back to a couple of days and weeks previously, you said the nature of the people in the NTMA are questioning and that the Financial Regulator had a problem with you asking questions, and it gets to the point where you say, "Maybe, these guys just don't know what's going on or what the situation is with the banks." So did you make those concerns known to anyone...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Eoghan Murphy: So Mr. Cardiff in the room would have known that the NTMA thought that the Financial Regulator and the Central Bank-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Eoghan Murphy: -----didn't know what was going on?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Eoghan Murphy: So do you know if Mr. Cardiff made that point in the meeting about the fact that the NTMA didn't have confidence in what the Financial Regulator and the Central Bank knew?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Eoghan Murphy: Okay. I think it's probably good advice, Chair,. If we might request that information from Mr. Cardiff-----