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Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Michael McGrath: August, September.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Michael McGrath: Okay. When the programme was negotiated in November, was there any particular element of it that you were very dissatisfied with? Is there any outcome that you wanted which you didn't get or was there any element of the plan that you didn't want to see in the plan?

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Michael McGrath: Okay, you say you were satisfied that corporation tax wasn't included but my question was, was there anything that you weren't satisfied with in the programme? What was the most disappointing aspect of it for you? Was it the interest rate, was it any individual element of that programme which was agreed?

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Michael McGrath: Sure. And then on 9 March 2011, you handed over the reins to the current Taoiseach, Enda Kenny. Would you have had a hand-over meeting with the incoming Taoiseach and what message would you have conveyed to him as to the key issues that you saw at that stage?

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Michael McGrath: So no one-to-one meeting as such, where he talks through the issues in your in-tray and-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Michael McGrath: Mr. Cowen, on 31 March 2010, in a Dáil exchange, Deputy Gilmore, as leader of the Labour Party during Leaders' Questions, questioned the motivation for ... for guaranteeing Anglo Irish Bank at the end of September 2008 and he said, on the record that day: I believe that the Taoiseach and the Government made that decision in September 2008 not in the best economic interest of the nation...

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Michael McGrath: Have you requested that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Michael McGrath: Thank you.

Written Answers — Department of Finance: Banking Sector (9 Jul 2015)

Michael McGrath: 108. To ask the Minister for Finance if qualifying loans in the private banking unit of the former Anglo Irish Bank transferred across to the National Asset Management Agency in the normal way; and if he will make a statement on the matter. [28047/15]

Written Answers — Department of Finance: Price Inflation (9 Jul 2015)

Michael McGrath: 109. To ask the Minister for Finance if he will provide, in tabular form, for the years 2004 to 2014, the annual increase in the price of a standard pack of 20 cigarettes in cents; the percentage increase; the inflation rate for each of the years; and the same for a 25g pack of roll-your-own tobacco. [28053/15]

Written Answers — Department of Finance: NAMA Receivers (9 Jul 2015)

Michael McGrath: 120. To ask the Minister for Finance to set out the number of receivers appointed by the National Asset Management Agency for the first six months of 2015; the number appointed in 2013 and in 2014; and if he will make a statement on the matter. [28163/15]

Written Answers — Department of Finance: NAMA Receivers (9 Jul 2015)

Michael McGrath: 121. To ask the Minister for Finance if he will provide in tabular form for 2013 and 2014 and for the first half of 2015 the names of the receivers appointed by the National Asset Management Agency, the number of receiverships they were engaged on; the total fees received by each named receiver in each year and in the six-month period of 2015; and if he will make a statement on the matter....

Written Answers — Department of Finance: NAMA Receivers (9 Jul 2015)

Michael McGrath: 122. To ask the Minister for Finance the range of fees agreed with the National Asset Management Agency appointed receivers; and if he will make a statement on the matter. [28165/15]

Written Answers — Department of Finance: NAMA Expenditure (9 Jul 2015)

Michael McGrath: 123. To ask the Minister for Finance if he will provide, in tabular form, the top ten highest payments received by the named receivers appointed by the National Asset Management Agency since the agency was established; the companies that the receivers were appointed to; and if he will make a statement on the matter. [28166/15]

Written Answers — Department of Public Expenditure and Reform: Pension Provisions (9 Jul 2015)

Michael McGrath: 126. To ask the Minister for Public Expenditure and Reform the impact of the Lansdowne Road agreement on the yield from the public service pension reduction in 2016 and 2017; the number of persons currently subject to a deduction as a result of the reduction; the average reduction in 2013 and 2014; and if he will make a statement on the matter. [28195/15]

Written Answers — Department of Health: Departmental Legal Costs (9 Jul 2015)

Michael McGrath: 190. To ask the Minister for Health the cost incurred to date by the State in legal actions in respect of tobacco plain packaging; and if he will make a statement on the matter. [28011/15]

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael McGrath: Thank you Chair. Good morning, Ms Herbert. Can I start by asking you about the decision to increase the deposit guarantee from €20,000 to €100,000 on 20 September 2008? Can you outline your knowledge of the events that led to that decision?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael McGrath: Okay. Deputy O'Donnell asked you about the decision to guarantee the banks. Did Minister Lenihan ever indicate any difference of opinion to you between himself and the Taoiseach as regards the approach with Anglo Irish Bank, that it should be nationalised as opposed to guaranteed?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael McGrath: Okay. The national recovery plan, which was published around the time of the bailout in November 2010, when did the work start on that, Ms Herbert?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Michael McGrath: Okay. You say in your witness statement that "many of [the] advisers were hampered in their analysis of the crisis by their unswerving belief that our banks were fundamentally sound". When it emerged subsequently in 2009, in 2010, when the full scale of the recapitalisation emerged, how ... did the Minister ever express any frustration to you as to the nature of that advice and the...

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