Results 24,461-24,480 of 35,924 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Pearse Doherty: But on the night, the original piece of legislation, did the Minister have the power to guarantee the banks at that stage or did he have to wait for the scheme to be approved?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Pearse Doherty: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Pearse Doherty: Once he had the scheme approved, that conferred on him then the power to do that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Pearse Doherty: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Pearse Doherty: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Pearse Doherty: Okay. And the question then I have, and finally, in this here, in those 24 days between 1 October to 24 October, where the order was signed, was there any discussion within the Department? Because bearing in mind, you know, the markets were attacking the share prices of these banks. The, you know, journalists and experts were screaming out, saying that this was wrong decisions, in terms of...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Pearse Doherty: ------all had their own views. In those four weeks, was there any discussion as to, "Well, maybe we should actually hold off on this, maybe we should not sign the dotted line in terms of the order and reconsider at least some of the institutions?"
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Pearse Doherty: Okay, thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Pearse Doherty: Yes, we could have a long debate here and you're most welcome. Fáilte, John. I'll start with just other questions. I may have time to come back on some other comments. But can you ... can you comment on the issues that for the troika to tackle ... how did the negotiations progress to agree the memorandum of understanding and outline the key differences between the troika and the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Pearse Doherty: Yes, yes that's fine, you weren't there for those ones.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Pearse Doherty: And what about the absence of any growth-related measures in the programme?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Pearse Doherty: John, you were still ... Mr. Moran, you were still saying, in April 2012 from the evidence we have, that as part of the sixth annual review, that the programme was at serious risk owing to the absence of growth related measures to counter fiscal consolidation. That was in April 2012.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Pearse Doherty: Okay. In relation to the liquidation of IBRC, there was a direction order issued by the Minister on request of the Department of Finance that was to wrest the control, take the control away, from the board of IBRC into one individual. It's state ... said in page 46 that one of the concerns would be for the uncontrolled withdrawal of credit and deposits given the rumour and controversy that...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Pearse Doherty: Can I just ... can I direct you to this ... direct you to page 46 and it says, and this is the direction order, it says: The publication of the Bloomberg story has generated, or has the potential to generate significant rumour, controversy and doubt in the market and the public mind as to the financial stability and solvency of IBRC. There is a significant risk that such rumour,...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Pearse Doherty: But, John, it ... it sounds that, you were, Mr. Moran, sorry, it sounds that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Pearse Doherty: Yes, it sounds that ye were waiting for a leak so that the public could be aware that you would trigger this. I'm not-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Pearse Doherty: I'm not ... I didn't ... I didn't question you in saying were you ... were you ... didn't ... you didn't have the necessary planning in place. What I was saying is that ye were caught off guard. That this wasn't to your timeframe, I would imagine, given the documents that we have in front of us-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Pearse Doherty: And the question-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Pearse Doherty: -----the specific question was, given that the team that was working an Operation Dawn ... and that that information had seeped out, as far as the newsagency Bloomberg, and the concerns that are raised here in terms of withdrawals and credit, was there an investigation carried out by the Department of Finance to ascertain was there credit or deposits withdrawn from IBRC in the days running up...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Pearse Doherty: I don't want to be right, it is not even another question, I just want an answer to my question that I asked.