Results 23,881-23,900 of 35,924 for speaker:Pearse Doherty

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

Pearse Doherty: Well, I'm asking did Minister Lenihan advise you that he had received a phone call from Jean-Claude Trichet, where the subject of burning bondholders was part of the discussion?

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

Pearse Doherty: Yes.

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

Pearse Doherty: Okay. But he's not ... what we're trying to do in this committee is gather a bit of evidence and we're trying to ... unfortunately, the late Minister isn't with us anymore, so we're trying to find out, did he ... on a first person basis, did he ever say that he had a phone conversation with Jean-Claude Trichet, that the issue of bondholders or burning bondholders was discussed? Not to your...

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

Pearse Doherty: -----your evidence.

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

Pearse Doherty: Okay. Okay. Can I ask you, in relation to ... you mentioned that the Department were sceptical in relation to the information from the regulators and particularly that the banks were sound. Was the Minister himself becoming sceptical of the information that the regulator was providing and did he inform you of such?

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

Pearse Doherty: And did he ... did he talk to you about the reasons why he argued - we understand, quite strongly - on the night of the guarantee for nationalisation of both Anglo and INBS? Was it because of the scepticism that he had in relation to the fact that those banks were sound?

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

Pearse Doherty: And did he explain to you why he wanted a distinction between Anglo and Nationwide from the other banks at that time?

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

Pearse Doherty: Ms Herbert, when was the first time that Minister Lenihan spoke to you about the need for the banks to be recapitalised? Did he suggest that this is an outcome that may arise around the time of the guarantee? Was it afterwards, was it before? Can you, can you give-----

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

Pearse Doherty: But even ... even though you've given evidence that Brian Lenihan was sceptical of the information that the regulator were ... was giving him in relation to the soundness of the banks and wanted to distinguish between Anglo ... Anglo Irish Bank and Irish Nationwide, was it Brian Lenihan's view, to your knowledge, on the night of the guarantee, that both those banks were financially sound?

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

Pearse Doherty: But you say he was sceptical of that advice.

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

Pearse Doherty: Were you aware of any lobbying to Brian Lenihan from outside of the Department or the Central Bank, any suggestions about the need to provide a guarantee from any individual? Did he ever discuss these matters with you?

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

Pearse Doherty: Okay. You talk in your statement about the role of advisers in analysing the crisis and you talk about how they were hampered in their analysis of the crisis by "were hampered in their analysis of the crisis by their unswerving belief that our banks were fundamentally sound and their failure to consider the possibility that their (sic) [may] be a crash rather than a soft landing in the Irish...

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

Pearse Doherty: Were you involved in any briefings so that you would understand what a soft landing meant as you wrote speeches for the Minister to try and persuade the public that that is where we were headed?

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

Pearse Doherty: Okay. Did you write the speech for him on the ... when he addressed the Dáil on 18 November, the day Governor Honohan went on RTE?

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

Pearse Doherty: Okay. And Minister Lenihan at the time said, as he was confirming the negotiations were beginning - or the discussions were beginning - with the IMF, he said, "The problems we are facing do not relate to our budgetary position ... It is important to understand that the problems we are addressing are of a structural character in the banking system.", i.e., the reason we are having these...

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

Pearse Doherty: That day ... that same day in the Dáil, Brian Lenihan confirmed that he would be heading the negotiations or heading the discussions without actually him being there, it would be officials dealing with it on a technical nature, but he would sign off on them. And we know the discussions and negotiations went on for a number of days. The previous day, Minister Batt O'Keeffe said this was...

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

Pearse Doherty: Ms Herbert, and finally, can I ask you ... and Deputy McGrath talked on this here in relation to the black hole in the banks and the loss of public confidence in relation to the Government announcing announcement after announcement that additional money had to be pumped into the bank, and the loss of international confidence as a result of that. Was it not the troika that insisted that the...

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

Pearse Doherty: Can I just ask you finally, you mention that it wasn't because you didn't get the sums right. But Minister ... or Governor Honohan in his own report says that Anglo Irish Bank and Irish Nationwide were heading towards insolvency at the time of the guarantee. The Government's sums were saying that they didn't require any money. How can you say that they ... that you didn't get the sums right?

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

Pearse Doherty: Go raibh maith agat agus fáilte arís. Can I ask you, that last statement that you made that you don't believe that the two banks were solvent. We've had numerous witnesses come before the committee and tell us that they believe that they were solvent, they've had reassurances from the Financial Regulator, the former Taoiseach says the Financial Regulator tested this here. What,...

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

Pearse Doherty: I've had this ... we've had this discussed at the committee, I think. I've questioned individuals on this because there's a lot of fixation, in my view, around the word "solvency." And you've described solvency from an accountancy point of view, that if you can't pay your dues as they fall due, then you're technically insolvent. Others would argue that that was a bank that was illiquid and...