Results 7,461-7,480 of 7,489 for speaker:Cian O'Callaghan

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Cian O'Callaghan: The report that we issued recommended that due diligence under international law be carried out before any decisions would be made in respect of these bonds. Why did the Central Bank not follow the recommendation from this committee that due diligence under international law should be carried out?

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Cian O'Callaghan: The Central Bank did have a role, however, because it transferred the role of approval for the prospectus to Luxembourg. The Central Bank decided to do that. It did, therefore, have a role.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Cian O'Callaghan: Mr. Makhlouf will not tell us whether the Central Bank had discussions with the State of Israel in advance of that transfer to issue any recommendations or guidance that it should apply for a transfer or to indicate whether the Central Bank would approve such a transfer if it sought one. Mr. Makhlouf will not tell us any of those things.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Cian O'Callaghan: I have more questions but I have taken up a good amount of time. I will respond to Ms McMunn and then I will come back in later.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Cian O'Callaghan: I will come in with a few questions and then it will be back to you, Senator Higgins, and then to the Chair. I want to follow up on a few of the answers the witnesses have given and a few of the issues. They said a key consideration for the Central Bank in this was connectivity. Can they explain why connectivity is so important? What is that about?

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Cian O'Callaghan: Mr. Cross said the Central Bank's decision-making needs to be reasoned and proportionate. Given what has been taking place in Gaza, given our obligations under international law, given that there is a genocide taking place against the Palestinian people - I note that the Governor seems to dispute the fact that there is a genocide and says that it has not been determined yet in international...

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Cian O'Callaghan: The Central Bank was empowered by this committee and the report it issued with respect to these issues to carry out due diligence with respect to international law. Did it do that?

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Cian O'Callaghan: With respect to international law?

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Cian O'Callaghan: How can the Central Bank stand over its decision in terms of international law and our obligations under the Genocide Convention?

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Cian O'Callaghan: The Central Bank has a legal obligation under international law to have regard to the genocide taking place. It has chosen not to do so even though under its own frameworks, it has "sole and absolute discretion" in this area. I am making a comment there. The Governor has told us that the bank thought about all the issues. Did it not think about the obligations under international law and...

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Cian O'Callaghan: Mr. Makhlouf is telling us the Central Bank has done its due diligence under international law to ensure its decision-making on this matter respects international law and our obligations under the Genocide Convention. Will Mr. Makhlouf tell us about this due diligence and how, under that due diligence, the Central Bank came to the conclusion that it was meeting its obligations under the...

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Cian O'Callaghan: Will Mr. Makhlouf share that analysis and that internal and external legal advice with the committee?

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Cian O'Callaghan: Mr. Makhlouf will not share it even though this is an area of public interest. He is defending his actions-----

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Cian O'Callaghan: Mr. Makhlouf is defending his decision-making here on the basis of the analysis and the internal and external legal advice received. The committee has made recommendations about due diligence under international law. He is assuring us the bank did do its due diligence under international law. We are asking for details about that and for him to share that analysis. Even if he will not...

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Cian O'Callaghan: Will Mr. Makhlouf provide detailed written analysis as to how that conclusion was arrived at?

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Cian O'Callaghan: When Mr. Makhlouf was before the committee on 11 June on these issues, we had an extensive engagement then and we subsequently published our report. He will not tell us the date when Israel made its request for a transfer but can he tell us that when he was with us in that committee on 11 June he had not received any request for a transfer at that point?

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Cian O'Callaghan: It is of key public interest and key interest to this committee. If that request had been received by the Central Bank and Mr. Makhlouf had not shared that information with us on 11 June, that would be very significant.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Cian O'Callaghan: Therefore, it could well be the case that when Mr. Makhlouf was with us in June he had already received a request for that transfer and he had not let us know but we will never know. We will never know the situation on that. He is not going to tell us. He is not going to provide any information on that at all - even about the broad timeframe as to when he received the request for a transfer.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Cian O'Callaghan: Well, it is a question

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Cian O'Callaghan: I thank the witnesses for their attendance and opening statement. On what date did Israel submit the application for this transfer?