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Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: I'm still getting reports of telephone interference. Is there any chance, Mr. O'Reilly, that your phone is switched on, even if it's-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: It's probably the best mode to be in.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: All right, thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

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

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: I need to ask you to come back a small bit there, Deputy, okay?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: Deputy, we should move on. This is the last question.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: Okay, thank you. Deputy Joe Higgins.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: With that line of questioning now, Deputy, that-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: -----this is not a court of law.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: If we rely on a quote it better be in front of us if ... Deputy. And the witness needs to be informed of it. What page number are you on there, Deputy?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: Yes, okay, I'll give you a bit of time.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: Okay, good man.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: Here we go.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: Last question, please.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: Please, Deputy, please.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: Thank you very much. Deputy McGrath.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: Okay, thank you very much. I just want to deal with one final question and then we'll start wrapping up with you, Mr. O'Reilly, and if ... that's if the leads are ... inviting to come back in ... I'll actually close in that case. Mr. O'Reilly, the ... in the second last paragraph on page 3 of your witness statement you say that in future developers ... and I'll then revert to your quote,...

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: Sorry, I'm just maybe away from the mic. In the second last paragraph, on page 3 of your witness statement, you say that in future developers must ask ... must act with greater prudence, responding to market demand, with product that is economically sustainable. So what changes, if any, would you propose to make your business model to make it more economically sustainable compared to the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: Okay, thank you very much. I'm going to bring matters to a close, Mr. Reilly. In doing so, I just propose that we will suspend for a few moments then just to go into a private session to attend to one single item after this. In that regard, is there anything you'd like to say by means of closing comment or statement, or remarks, Mr. O'Reilly?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: Okay. Thank you very much, Mr. O'Reilly. With that said, I'd like to thank you for your participation this evening, with the inquiry and your engagement with it, and your co-operation as well in regard to our time management of our engagement with you today. With that said, the witness is now excused. So I'm proposing a five-minute very, very short break.

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