Results 6,161-6,180 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Eoghan Murphy: But the Commission wasn't consulted before that declaration was made?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Eoghan Murphy: Okay. Can I move forward, then, to November and to the G20 summit? Was the Commission at the G20 summit?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Eoghan Murphy: Were you at the G20 summit?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Eoghan Murphy: Okay. We've heard in evidence of the frustrations from Irish ... members of the Government that fellow member states but also either ECB or Commission officials were briefing against Ireland in Seoul and that this precipitated the need, almost certainly, for a bailout. Does that sound familiar? Are you aware of any briefings or conversations or discussions on Ireland at the G20 meeting?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Eoghan Murphy: Did you share your view with people there that Ireland would need a bailout?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Eoghan Murphy: Okay, but you weren't party to any informal decisions that were made?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Eoghan Murphy: Thank you. I want to move forward, then, just to burden-sharing and the legal advice. Did the Commission get its own legal advice on whether or not it was constitutional for Ireland to impose losses on senior bondholders?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Eoghan Murphy: Was it put to the Commission that Ireland might hold a referendum on the issue in case there was any constitutional uncertainty?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Eoghan Murphy: Was it put to you that Ireland might hold a referendum to amend the Constitution so that it would be legal to burn senior bondholders?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Eoghan Murphy: So you weren't . . . that didn't come up in a discussion that you were party to?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Eoghan Murphy: Okay, thank you. If I might just move on then to March 2011 and the new Government is in place. There are negotiations on the interest rate that has been agreed with the bailout programme and the possibility of producing it. Was the Commission of the view as early as March 2011 that the interest rate needed to be reduced?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Eoghan Murphy: This is my final question Mr. Buti. We have it in evidence that in March of 2011 the new Irish Government was in discussions with the Commission about reducing that interest rate but that this had to come off the table because France and Germany raised again the issue of the Irish corporate tax rate. Is that what happened? Is that why those negotiations were postponed until later?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Eoghan Murphy: Thank you, Chair.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Eoghan Murphy: Thank you, Chairman, and thank you Minister. I'll be brief, because a lot of the areas have been covered. I just want to clarify a couple of issues, if I may? The first is in relation to November 2010 and the memorandum of understanding that's agreed with the troika, and you are being briefed by the IMF at the time as the Opposition spokesperson from Fine Gael. Did the IMF, or...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Eoghan Murphy: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Eoghan Murphy: In terms of then, when you come into government, what prompts the change in official thinking about the possibility of the ECB agreeing to burden-sharing when it comes to March 2011?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Eoghan Murphy: And reflected in the programme for Government with the assent of the European Central Bank.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Eoghan Murphy: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Eoghan Murphy: But does that mean that the European Central Bank had to sign off on our programme for Government?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Eoghan Murphy: No. Can you just clarify what you're saying there in terms of-----