Results 12,821-12,840 of 16,492 for speaker:Ciarán Lynch
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Ciarán Lynch: Okay. So the discussions that were taking place with regard to the IMF, and broad discussions that a guarantee may be ... or a bailout may be entered into, was that on the basis that the guarantee was going to run out and something significant would have to be done?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Ciarán Lynch: And as we know from the, the bailout and from the adjustment programme that came with it, there was quite a significant Exchequer or structural deficit, in and around €30 billion, in regards to the State's solvency, regardless of what the banks were actually requiring in terms of ELA. So, likewise as the question was put to Mr. Cardiff yesterday, could I put the same question to you...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Ciarán Lynch: Was there any discussion between yourself and the ECB directly with regard to the potential concerns with regard to the State's solvency, that de facto, if the State was not solvent or was potentially becoming insolvent because of it's ... because of the structural deficit was facing, that the banks were de facto insolvent?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Ciarán Lynch: And just coming back to Mr. Cardiff's initial statement, where he commented upon Mr. Trichet's letter of 19 November 2010 to the late Minister for Finance. He said, "In many ways [the] letter was entirely superfluous, since it was already clear by the time of the letter that the Government was going to opt into a programme." Now, that would imply, in the same way that somebody would apply...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Ciarán Lynch: And the funding you're talking about now ... just to clarify, is that funding specific to the banks or funding specific-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Ciarán Lynch: So that's the Exchequer deficit being-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Ciarán Lynch: -----being met as well?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Ciarán Lynch: So, by turn, if a programme had been entered earlier than November 2010, would the cost ... or was there an opportunity for the cost to be potentially less?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Ciarán Lynch: Okay. So, ultimately, was it your ... I will ask you your opinion, was an entry into a bailout programme necessary by that period?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Ciarán Lynch: And, in any way, did that necessity motivate your thoughts to make a public declaration on what was actually happening at that time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Ciarán Lynch: Thank you. So our first lead questioner this afternoon is Senator D'Arcy. Senator, you have 25 minutes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Ciarán Lynch: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Ciarán Lynch: Okay, I think, Deputy-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Ciarán Lynch: Move on from that. Thank you very much.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Ciarán Lynch: Can I just clarify one thing, Mr. Honohan?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Ciarán Lynch: Did you instigate the call or did RTE contact you?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Ciarán Lynch: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Ciarán Lynch: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Ciarán Lynch: Mind your language, now, you can ask a question, yes, but be careful of any value judgments in it, and you have about seven minutes to go.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Ciarán Lynch: I am very simply stating, Mr. Honohan, I just need to get through a particular line of questioning with you this afternoon and I note that the Robert Ludlum stuff and all the rest of it can be very interesting and colourful but there are some factual matters relating to what happened here in Ireland that we need to get through.