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Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: And if members can rely upon the core documents that we have where we spent months of researching them rather than going down to the library to pick up something that might be a thriller and might help us in our final report as well. What I want to focus in upon, particularly with the question that Senator D'Arcy put to you, is there is a document up on the screen there and it's a statement...

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Okay, thank you. Deputy Joe Higgins ... no, I'm moving on ... we're way over time, Sir. I'm moving on. You'll come in the wrap-up. Deputy Higgins.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Phone interference there coming in, Deputy Higgins. It may not be yourself but it's coming from the proximity, so please continue to question but I ask members to now turn off their phones.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Thank you. Thank you, Deputy Higgins. Just a ... on one matter from Deputy Higgins, and just returning to something earlier as well, Deputy Higgins raised the issue with regard to white collar crime. And even moving aside from white collar crime there's the issue ... the difference between bankers and banks. When your colleague was here recently, Mr. Roux, a question was put to him and...

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: All right. I just want to deal with one other matter, and if I can get a particular document up on screen there. Professor, this is a letter to yourself of 25 October 2012. The letter is from Minister Noonan and it relates to the Minister for Finance writing to you requesting that you present the Government proposal to the economic management council, EMC, of 8 November 2012, covering the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Thank you. I now invite Deputy Phelan, after which I propose that we'll take a short coffee break. Deputy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Yes, I just have one question relating to that and I was going to deal with it after the break but, seeing that we're on that topic, I'm just going to take it now.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Drawing on from Deputy Phelan's question, and I'm sure others may want to ask it as well, is ... do you have a view on the risks, or the potential risks, to Ireland's financial stability given the dual supervisory regime of the ECB and the Central Bank of Ireland because ... and what that might represent?

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Okay, with that said, I now propose that we take a short break, to resume again at 4.30 p.m. In doing so, I just want to remind the witness that once he begins giving evidence, he should not confer with any person other than his legal team in relation to the evidence or matters that are being discussed before the committee. With that in mind, I now suspend the meeting until 4.30 p.m. and...

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: So I propose that we go back into public session to continue our proceedings with Governor Honohan this afternoon. Is that agreed? Agreed. And our next questioner is Deputy Eoghan Murphy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Final supplementary there, Deputy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Thank you very much, Deputy. Senator Sean Barrett. Senator, ten minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Just one question there, Senator, please.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: All right, good point to conclude on, Senator Barrett. Senator O'Keeffe.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Final question, Senator.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Thank you Senator. Senator Mark MacSharry.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Thank you, Professor Honohan. Thank you, Senator MacSharry. Deputy Michael McGrath.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: This is billions now, not millions?

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: Thank you very much, Deputy. Deputy Pearse Doherty.

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Ciarán Lynch: I get awfully concerned when you write to me, Governor, so please don't.

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