Results 1,201-1,220 of 6,295 for speaker:Michael D'Arcy

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Michael D'Arcy: There was a specific question. For those who held a contrarian view, did it impact on their prospects of being promoted if they were seen as somebody who has an alternative none-mainstream view and if they pursued that position, they would not be considered for promotion whenever promotion came around and they were considered difficult to manage?

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Michael D'Arcy: Suitably qualified people were not available in the Department of Finance at the time. Mr. Nyberg stated yesterday that people who give advice give advice and that those who make decisions make decisions. Would it have made any difference if suitably qualified people had been in place in the Department of Finance and had given alternative advice to those who made the decisions? Is it not...

Seanad: Order of Business (19 Dec 2014)

Michael D'Arcy: I want to raise the matter of domestic violence even though it might seem to be regrettable to raise is prior to Christmas. For a lot of people this time year is a family time but it can also be a very difficult time. I noticed that the Minister for Justice and Equality made a very substantial statement in the Dáil on domestic violence two days ago. At the earliest opportunity in the...

Seanad: Water Services Bill 2014: Committee Stage (19 Dec 2014)

Michael D'Arcy: That is not related to this section.

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

Michael D'Arcy: I thank the Governor for attending. I will start with his position that Anglo should have been allowed to fail at the end of September 2008. That is his view now. Was it his view at that stage also?

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

Michael D'Arcy: So, with the benefit of hindsight, that is Professor Honohan's view.

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

Michael D'Arcy: Eventually, Professor Honohan's report states, there was a broad consensus that the guarantee scheme for all institutions was the best approach - that is what his report states.

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

Michael D'Arcy: In terms of dissenting voices, was the Minister, Mr. Lenihan, not a dissenting voice?

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

Michael D'Arcy: Professor Honohan is saying that Mr. Lenihan's view was that Anglo and INBS should have been nationalised.

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

Michael D'Arcy: In the piece Professor Honohan provided for the Brian Lenihan book, he stated: "As he told me himself, Brian argued strongly for the immediate nationalisation of both Anglo and INBS - but ... he was overruled on the night."

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

Michael D'Arcy: Who overruled him?

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

Michael D'Arcy: What the Governor is saying is that Mr. Lenihan was overruled on the night, although we are not naming anybody. Who has the authority to overrule the Minister for Finance?

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

Michael D'Arcy: But Professor Honohan said he was overruled.

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

Michael D'Arcy: I have not asked Professor Honohan to name them. I have asked who has the authority, which body has the authority, to overrule the Minister for Finance.

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

Michael D'Arcy: I have a question in regard to DEPFA. On the weekend prior to the State guarantee there were difficulties in terms of its liquidity, and funds were presented into that particular bank. In the professor's piece in the same book, he made the point that, here, the Irish authorities stood firm, resisting foreign pressures to provide Government or Central Bank support towards the bank that was...

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

Michael D'Arcy: And they are standing firm. Did Professor Honohan get the impression that potentially there was a payback when they did not supply telephones?

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

Michael D'Arcy: In previous evidence from Mr. Nyberg when he came before the committee before Christmas he made the point that the special resolution legislation was being considered in 2007 but that because of our Constitution, there could have been difficulty in passing that legislation. We subsequently passed it a number of years later, and there was not a difficulty with the Constitution. If that...

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

Michael D'Arcy: The evidence presented by Mr. Nyberg was that the Central Bank and the Financial Regulator were not in favour of proceeding with that legislation. Is that Professor Honohan's understanding?

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

Michael D'Arcy: I suppose-----

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

Michael D'Arcy: Between his report and his piece for the Lenihan book, Professor Honohan seemed to pour scorn on some of the advice, and even today he speaks about experts within the elite international investment banks. An example I would give him is that Merrill Lynch said that Anglo Irish Bank was financially sound 11 days before it was nationalised. Merrill Lynch got a fee of €11 million for...