Results 2,541-2,560 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: Well, that's going to be my final question now, 'cause I'll come around to that, okay? So, can I ask you, can you outline the content of the original version? Was the first version an all-inclusive guarantee?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: They are technical aspects of the guarantee or maybe difficulties might arise, it would have to be clarified out and they would be worked back and forth as the draft is evolving over the course of the night. But the substantive part of the statement is whether the banks were going to be included in it or totally included or as not, which I would imagine would be a very significant moment in...

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: Okay. Coming back to my final question on this - can you explain why it would appear that a copy of this document does not appear to have survived a meeting?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: Have you seen a draft of that document or one of the 12 variations of it since that night?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: As to how recent have you seen one of those drafts?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: Which was when?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: Okay. Was it one draft or a number of drafts that you saw?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: And on the basis of - bearing in mind it is recollection - where did you see those documents?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: The Department of the Taoiseach.

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: Okay, right. Thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: You can, indeed.

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: Just put it in there and I'll take it.

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: Okay. I just want to deal with one issue with regard to the guarantee on a more macro level with you, Mr. McCarthy, before we break. And that's to put the question to you: in your opinion did the duration of the guarantee, which was a two-year duration, create the conditions for the funding cliff that precipitated the bailout?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: So, on that basis, just, and just to clarify and summarise it, so what you ... are you proposing that there was some consideration or concern with regard to the appropriateness of the duration and was that being reviewed during that time, prior to its point of expiry - like, for instance, one year in or 18 months in or whatever - that's what you're saying this evening, yes?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: And also, one year into the process or towards the end of year 1, or on ... coming into the transition then of the first tranche of loans to NAMA were happening at that time, so did the Government consider a review at any point prior to that and then, particularly, prior to the bailout?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: Okay. All right. Thank you, Mr. McCarthy. It's just coming up to about 7.10 p.m. I'm proposing that we break for 20 minutes or just in about that. The other thing, if I can maybe just ask members' permission just to come back maybe about two or three minutes before that, as I just want to review one document, then make a decision on it, and we'll see where we're going from there, okay?...

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Ciarán Lynch: We will resume in public session and, in doing so, I'll invite Deputy Pearse Doherty for ten minutes of questions, please.