Results 11,721-11,740 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: With members' permission, I now call the committee back into public session. Is that agreed? Agreed. And the Committee of Inquiry into the Banking Crisis now resuming in public session, I can remind members and those in the public Gallery to ensure that their mobile devices are switched off. Today we are now continuing our hearings with senior officials in the Central Bank of Ireland and...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Thank you very much, Mr. Roux. So, if I can get proceedings under way and ask Mr. Roux to make his opening remarks to the committee, please.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: If you bear with my Cork accent, we'll have a deal, Mr. Roux.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Thank you very much, Mr. Roux, and just for ... to kind of maintain the fullest record, there's maybe a slight variation on the formal statement that you put in, so maybe if you could provide the committee with the address that you gave us today as well at your own convenience. So, with that said, to get matters under way, if I can invite Deputy McGrath to lead off the questions. Deputy,...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Final question and I will bring you back in again then, Deputy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Thank you. Senator O'Keeffe.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Final question.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Thank you very much. If I could maybe just draw upon one issue that Ms O'Keeffe or Senator O'Keeffe was dealing with you, Mr. Roux, and that's the issue of fines. MarketWatch, which is a new subsidiary of The Wall Street Journal, reported at the end of year 2014 that there was $180 billion US dollars in fines since the financial crisis. Are you aware of that sum?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Okay. So if ... that's quite a significant sum of money?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Measured against the Irish bailout, which was-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: -----gross maybe €64 billion, net €34 billion, that $180 billion US dollars has been paid out in ... as a result of banking behaviour or penalties ... on the back of behaviour. Do penalties ultimately work, such as fines, or do we need tougher sanctions that may be more criminally related and ones that would actually have jail sentences?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: And if I could pose a question, and it goes back to earlier testimony that we had from Professor William Black, who spoke about the difference between banks and bankers, in that it's bankers ultimately make decisions, not banks, as in bricks and mortar. And Professor Lane's testimony as well where he raised this sum initially. And the proposition, I think, that was put forward by Professor...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Okay, thank you. Deputy Eoghan Murphy. Deputy?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: I need to wrap you up there. Really quickly.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Deputy Higgins.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: It's an aggregated bit of information; it's not specific, as far as I know. I'll double check that there now.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Thank you very much. Deputy Doherty.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Last question there, Deputy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: Now the question is made, Mr. Roux.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Ciarán Lynch: That wasn't lost in translation I can tell you.