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Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Kieran O'Donnell: Taoiseach and Minister Bruton, if you had been elected as Taoiseach in '07, Mr. Kenny, what would you have done differently in terms of dealing with the banks and the bank guarantee than was done by the Government of the day?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Kieran O'Donnell: And, Mr. Bruton, in terms of the approach to the banks, in terms of the guarantee itself, what difference, looking back now and reflecting on your period in Government, what different of an approach would Fine Gael in Government have taken in terms of putting a bank guarantee and the approach?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Kieran O'Donnell: And finally, Taoiseach-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Kieran O'Donnell: In ... what assurance can you give to the public that the measures that have been brought in will ensure that a banking crisis doesn't happen again in Ireland and that we don't have a property bubble for the ordinary person-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Kieran O'Donnell: Deputy Rabbitte, in page 3 of your statement, you conclude that by saying, "In the narrow area of effective scrutiny of the banking sector, if the structures had existed and if the opposition had known the pertinent questions to ask, the government wouldn’t have been able to answer them because the government didn’t know there was a crisis until it was too late." To what extent...

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Kieran O'Donnell: I'm putting that, Chairman, okay. Thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Kieran O'Donnell: Do you think people knew? Do you think people knew that the banks were insolvent? Within the system.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Kieran O'Donnell: Right. The monoline banks, do you believe people within institutions, within Government were aware on the night of the guarantee that Anglo was insolvent?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Kieran O'Donnell: Or do you think they should have been ... Should they have been aware?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Kieran O'Donnell: But when-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Kieran O'Donnell: Tánaiste, do you believe ... what specifically would you have done differently in terms of when ... after June 2007, in dealing with the banks and in terms of a guarantee? Specifically. I don't want the general, I just want specifics. And would it have saved the taxpayer money?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Kieran O'Donnell: So would you have gone for higher than the €100,000? Earlier?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: Chairman.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: Could I invoke just one clarification?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: You made reference that-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: Yes. It was on IAS 39, Chairman-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: -----and Mr. Merriman said it was a red herring, and the question I want to ask-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: -----was EBS ever asked by the Financial Regulator or the Central Bank to increase the provisions on loan losses?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: Were you surprised with that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: Did you-----

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