Results 23,721-23,740 of 35,894 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: In 2007?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: So, after 2007, you would have been aware that it would be the German regulator that was regulating Hypo Real Estate and, through its unit in Dublin, Depfa Bank; would that be correct or incorrect?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: When you ... when you were lobbying the Irish Government or the Department of the Taoiseach for Depfa to be included in the bank guarantee, were you aware that it was the German regulator who regulated that bank at the time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: And would your role in the ... IBF mean that you would carry out the instructions of the bankers despite that it would have potentially devastating consequences on the Irish State?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: But the question is, would you represent their concerns despite the fact that the ... if they agreed to do what you asked them to do, that it could have a potentially devastating consequences to the State?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Mr. Farrell-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: -----how is this a hypothetical situation? The IBF lobbied the Department of Finance for Depfa to be included in the guarantee - not hypothetical, looked for them to be included as a section in the guarantee. And you went then to the Department of the Taoiseach asking "We need your support in this." How was this hypothetical? Was this not a very concentrated effort on behalf of the IBF...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: -----were going through at the time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Sorry, you didn't have knowledge of what?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: So, you weren't aware that the Germans had created a bailout fund for Hypo Real Estate because of the liquidity problems of Depfa Bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: What do you mean "not particularly"? Like, this was-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Can I ... well, can I put it to you that you did do more? You actually passed on the representation ... well, you actually passed on a representation, from the evidence that we have, which came from the IBF, looking for Depfa to be included in the guarantee, which was drafted by the IBF themselves, but you went further and you went to the Secretary General of the Department of the Taoiseach...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: -----which was ... which becomes-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: -----which became a bust bank at the cost of billions of euro to the German taxpayer. You lobbied for that burden to be placed on the Irish taxpayer.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Okay. See the representation that we're looking at on the screen, where it says, "We need your support in this - IFSC banking has been completely overlooked. [This] issue is as relevant to retail banks as to the covered ... banks of IFSC." Is that passing on representation or are they your words ... looking for the general secretary of the Department of the Taoiseach to include what is...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: How can your request for the Department of the Taoiseach for support be seen as just passing on a representation? Didn't you not make a call to the Department of the Taoiseach, based on this evidence, for Depfa Bank to be included in the guarantee?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Pearse Doherty: Okay. The first two lines - just let's look at the screen - where you've asked the Department of the Taoiseach's general secretary for the support of this issue, is that passing on representation or is that calling for the Department of the Taoiseach to act on a matter?