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Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

Kieran O'Donnell: Even though the regulator was regulating both.

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

Kieran O'Donnell: Can I then go back to the European Central Bank, ECB?

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

Kieran O'Donnell: The Professor's role is Governor of the Central Bank of Ireland and he is our representative on the ECB. Is it fair of me to state the Governor is the representative of the ECB in Ireland?

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

Kieran O'Donnell: Is the ECB aware of that?

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

Kieran O'Donnell: In a final point, would the Governor encourage the ECB, in his role as the Irish representative?

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

Kieran O'Donnell: I will phrase it in another way. Does the Governor anticipate that the ECB will look favourably on the inquiry and will appear before the committee?

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

Kieran O'Donnell: I thank the Governor.

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

Kieran O'Donnell: Physically when the money went in, the €64 billion, physically----

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

Kieran O'Donnell: Where did that go?

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

Kieran O'Donnell: That is what the person out there who has gone through six years of extreme difficulties wants to know. Where did that go?

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

Kieran O'Donnell: So it went to bondholders.

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

Kieran O'Donnell: When the banks came knocking at the door in terms of ELA funding and funding from the Irish State, why were they doing it and who were they looking to get the money to use?

Topical Issue Debate: Airport Landing Slots (20 Jan 2015)

Kieran O'Donnell: I thank the Minister, Deputy Donohoe, for being present in the House for this matter. As we speak, discussions are ongoing between IAG and the Aer Lingus board in regard to a possible third bid. In that context, it is vital the Heathrow slots, particularly in terms of regional development at Shannon and Cork, are protected. The stakes are extremely high for Limerick and the mid-west, where...

Topical Issue Debate: Airport Landing Slots (20 Jan 2015)

Kieran O'Donnell: I thank the Minister for his response. He referred to preserving connectivity and the Heathrow slots. The 25.1% stake was retained in Aer Lingus by the State for that very purpose. He also stated, “Following a third hostile takeover bid for Aer Lingus by Ryanair, the Government indicated it would not be prepared to sell the shareholding in circumstances which could significantly...

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

Kieran O'Donnell: I welcome Mr. Regling and sympathise with him on the passing of Max Watson. I was here when Mr. Watson appeared before the committee. Mr. Regling concurred with a statement that the Irish crisis could have threatened the euro. I want him to expand on that. Why did he agree with that statement?

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

Kieran O'Donnell: Ireland was the first country.

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

Kieran O'Donnell: Our guarantee was put in place on 29 September. It appears to have been done after very little deliberation with the ECB. Was it Mr. Regling's understanding that there were deliberations with the ECB prior to the guarantee?

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

Kieran O'Donnell: When Mr. Regling says he has sympathy for that, in what sense does he have sympathy for the Governor?

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

Kieran O'Donnell: Mr. Regling was a director in the European Commission up to 2008 on the economic side. I refer to the Stability and Growth Pact construct. Mr. Regling makes reference throughout the report to the fact that alarm bells should have gone off in terms of the increase in lending. He speaks about the systemic risk throughout the banks which it seems was important beyond...

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

Kieran O'Donnell: Does Mr. Regling believe----

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