Results 24,261-24,280 of 35,924 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: No, but the question-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: The point I'm saying is, do they become insolvent de facto because ... if they can't get money from the markets, given that the ECB won't lend them money if they're-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: Is that not a case that Anglo was insolvent, based on the 8% capital, on the night of the guarantee, given that it could not access capital markets and-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: -----it would not have access to ECB finance?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: That's incorrect, sorry, not in the-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: Thanks. Professor Honohan, I have ten minutes and ten questions, and leading from Deputy McGrath's question, should the Government at that time - in 2011 - have announced in the Dáil, without talking to the ECB, that they were going to burn the bondholders in Anglo Irish Bank, in your opinion?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: What was the ECB likely to do in reaction to the Government taking a unilateral decision?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: Would they ... would ... could they have switched off the ELA at that time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: Okay. In terms of the recommendations in the 20 pages of recommendations-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: They wouldn't have cut off ELA.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: Okay. In terms of the recommendations that's in the core documents, the 20 pages of changes that you've introduced, is there any still outstanding from previous reports and are there any plans to introduce these changes in the future? Are there any gaps in your implementation of the necessary changes?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: Professor, when you-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: Maybe that's something you could submit to the committee at a later stage, if you wouldn't mind?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: Governor, in 2011 you responded to a question that I put in relation to the programme of assistance, or the bailout, you said, "I was not all that happy with the negotiations, not that I think it was a bad deal." You went on to say, "There were a lot of missed opportunities", and you went to give a specific example. You said, "For example, the managing director of the IMF, Christine...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: You did say that at the time, that it was put together more quickly than was really strictly necessary. Do you believe that the Government should have held out longer and tried to get these points across the line?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: How could it be a missed opportunity if it couldn't ... if you believe it couldn't have been achieved?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: You also said that ... in terms of the markets and the response to the bailout, you say, "The markets didn't like the fact that there was no bail in."
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: So the markets, in your view, were expecting that there would be a bail in?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Pearse Doherty: Future bondholders wanted the troika programme to agree to burn some existing bondholders.