Results 7,441-7,460 of 26,043 for speaker:Kieran O'Donnell
- Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)
Kieran O'Donnell: Can I reword the question?
- Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)
Kieran O'Donnell: What is the most critical element?
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Kieran O'Donnell: I welcome the Governor, Professor Honohan. To revert to his opening statement this morning, he spoke about an alternative strategy, as distinct from the blanket guarantee. Had the guarantee been managed differently, would the Irish citizens now be on the hook for €40 billion, which is what the Governor has estimated to be the cost? As I find that to be an outstanding statement, the...
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Kieran O'Donnell: In that context, looking through your report, the first suggestion of guaranteeing dated subordinated debt - it was lower-tier, tier 2 - was when the banks came in on the night before, that appears to be the first place it was mentioned. It was not a part of the crisis management in terms of the options that were being looked at.
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Kieran O'Donnell: What was the reason given?
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Kieran O'Donnell: In your report and certainly in your presentation, you state that "external partners might have responded to such an idea with compromise proposals that might have alleviated subsequent pressure on the Irish Exchequer" if they had been properly consulted. Around the guarantee, from your investigations, were discussions held with the ECB?
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Kieran O'Donnell: Who were these communications with?
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Kieran O'Donnell: In your report, you say that no bank should fail.
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Kieran O'Donnell: That was the policy. You said that it did not emanate from the Central Bank. Who made that decision?
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Kieran O'Donnell: Prior to the guarantee, who made that decision, in the Irish context?
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Kieran O'Donnell: The Central Bank did not come up with that policy. Who came up with that policy?
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Kieran O'Donnell: You said specifically in your report that they did not initiate that policy.
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Kieran O'Donnell: Who initiated it?
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Kieran O'Donnell: Did it emanate from the Department of Finance? Did it emanate from a political level? Where did it come from? The context I am putting it-----
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Kieran O'Donnell: Would you have shared that view? You completed a paper in the summer of 2009, Resolving Ireland's Banking Crisis, where you effectively said that independent observers would state that Anglo Irish Bank was not a systemic bank, yet a couple of months later in the report you did for the Government, you say it was systemic. What in the interim made you change your mind, so that it went from...
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Kieran O'Donnell: On mature recollection.
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Kieran O'Donnell: If the decision had been taken on the night of the guarantee for the Irish Central Bank, through the Irish Governor, to provide emergency liquidity - which it could have done - for a week, and then engage with the ECB and European partners, would the outcome for the Irish public and the Irish taxpayer have been better? Second, regarding the type of guarantee that was put in place, a...
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Kieran O'Donnell: I assume that by doing that, the Governor would not have had to put any form of guarantee in place. He would basically have been providing emergency liquidity to Anglo Irish Bank itself.
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Kieran O'Donnell: Was it in ways a pyrrhic victory going with the blanket guarantee with the taxpayer on the hook for €40 billion? Will Professor Honohan elaborate on that? Was it a self-fulfilling prophecy that the blanket guarantee would store up major problems for and completely-----
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Kieran O'Donnell: By whom?