Results 25,021-25,040 of 35,925 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Pearse Doherty: So there was no threat on the night of 29 September, into the hours of those early mornings, that a bank would not open its doors the following morning.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Pearse Doherty: Okay. When you say in your statement that the arrangements to provide assistance to Anglo had already been made in the Central Bank, when were those arrangements made?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Pearse Doherty: That was the evening of what?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Pearse Doherty: But prior ... what other arrangements ... you were waiting-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Pearse Doherty: Yes, when? "When?" is the key question. You got the letter of comfort on the 29th. Was the other arrangements done before that? Was it during that weekend or when was it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Pearse Doherty: Over those few days. And was the provision of emergency liquidity an issue for the board or was it an issue for the Governor? Did you have authority?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Pearse Doherty: So you had the ... you had the say.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Pearse Doherty: Okay. So, with that in mind, did you inform the heads of the Anglo Irish Bank that you were going to provide the emergency liquidity assistance to them?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Pearse Doherty: So when the heads of Anglo Irish Bank went to bed that night, they knew that their bank was going to open in the morning because the Central Bank were going to ... had told them that ELA was going to be offered. Is that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Pearse Doherty: Okay. So, regardless of what happened in Government Buildings, Anglo Irish Bank was going to continue to function the following morning.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Pearse Doherty: Just ... I understand what the issue is but I am asking the question. Is that a "Yes" or a "No"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Pearse Doherty: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Pearse Doherty: That's fine. I just wanted to get clarity on that.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Pearse Doherty: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Pearse Doherty: That's fine and I appreciate that. I am more interested in the ... kind of ... the scenario that has been painted to the public and, indeed, evidence we have had before the committee that this had to be done that night because a bank was going to collapse the following morning. And you've given testimony to the contrary in that ... that the arrangements were put in place that it wouldn't...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Pearse Doherty: Yes. The question I have then is ... let me just actually backtrack a wee bit. You've mentioned to the Chairperson and others that was legislation prepared to nationalise a bank. I think you mentioned that that was before ... sometime in the summer. Was the ... was there legislation prepared to nationalise a building society?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Pearse Doherty: And was that prior to the legislation to nationalise a bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Pearse Doherty: I understand that. I understand that. In relation to, in relation to the issue of the guarantee, you mentioned that the coherence of the statement on that night, if the coherence was not there, we would have went down. Now, some would say that the country did go down, that it went into the hands of the troika two months later, and one of the central modifications-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Pearse Doherty: Two years later, sorry.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Pearse Doherty: Two years later, was the guarantee that was issued and the decision that was taken that night. Knowing everything that has transpired since that night in Government Buildings, do you still stand over your advice to guarantee Anglo Irish Bank?