Results 16,021-16,040 of 16,492 for speaker:Ciarán Lynch

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

Ciarán Lynch: Thank you very much. Senator Barrett.

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

Ciarán Lynch: Thank you very much and I'm just going to wrap up very briefly. In your witness statement, you advise that the guarantee was not thought on the night of the ... or, sorry, the guarantee was not thought up on the night of 29 September but arose from extensive analysis by the Department of Finance, Central Bank Governor, regulator and with the other involvement of teams of external advisers....

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

Ciarán Lynch: Yes.

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

Ciarán Lynch: Okay.

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

Ciarán Lynch: In terms of probability, to use that term, this was probable or not more than other things on the table?

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

Ciarán Lynch: Okay.

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

Ciarán Lynch: And you covered that earlier this evening with us as well.

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

Ciarán Lynch: You say that a liquidation of Anglo would've been much better for the Exchequer but much worse for the economy. In what way would the Irish economy have suffered from this and can you put any figure on it?

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

Ciarán Lynch: Okay.

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

Ciarán Lynch: And, finally, I just want to come back to the call that Mr. Cowen, the Taoiseach, made to you that evening. He rings you - what's the content of that telephone call actually?

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

Ciarán Lynch: Yes, what was the purpose? Mr. Cowen, obviously, has a reason for ringing you.

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

Ciarán Lynch: He wants to discuss .... what's he ringing you about?

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

Ciarán Lynch: I-----

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

Ciarán Lynch: Okay. So, as you said earlier, the guarantee was in the ether in terms of probabilities or whatever. We'll see what the weight of that actually is but we know, or it has been presented here from testimony, that the issue of including or not including Anglo in the guarantee is a very significant discussion on the night. The Minister for Finance and the Taoiseach have different views on it...

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

Ciarán Lynch: And what would it have been?

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

Ciarán Lynch: And earlier that afternoon, the CEO and chief executive ... sorry, the chairperson and chief executive officer had called to you, told you about all their problems.

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

Ciarán Lynch: You were cognisant of that. The Taoiseach's on the phone to you. There is a guarantee being put in place ... the extension of the guarantee. By your own volition, do you think you maybe should have had that discussion and told the Taoiseach that there ... you had a visit from these gentlemen that afternoon and, on the information that you had, this is the exposure the State would actually...

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

Ciarán Lynch: Okay. I'm going to wrap things up, Mr. Gray. I certainly appreciate, and the committee does, your co-operation this afternoon. We've, kind of, a long schedule today and we've a bit of an overrun. Is there anything you'd like to say? I know in your opening statement you gave some recommendations for the future, which the committee would always welcome to hear in terms of our report. Is...

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

Ciarán Lynch: Okay, by means of correspondence, that's always welcome. In terms of ideas, we never have enough ideas, as we know, without a formal legal process and all the rest of it, Mr. Gray, so thank you very much for that offer. With that said, I now propose that in thanking Mr. Gray for his participation and engagement with the inquiry, that we formally excuse him and doing so, that we will suspend...

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

Ciarán Lynch: The Committee of Inquiry into the Banking Crisis is now resuming in public session. Can I ask members and those in the public Gallery to ensure that their mobile devices are switched off? Our final hearing of this evening is with Mr. Tom Browne, former director of Anglo Irish Bank. Mr. Browne was a director of Anglo from 2004 to November 2007. He joined Anglo in 1990 and was a member of...