Results 2,581-2,600 of 7,082 for speaker:John Paul Phelan
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
John Paul Phelan: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
John Paul Phelan: You're under affirmation, I think, instead of oath. I just want to put the quote to you again. You stated-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
John Paul Phelan: You stated: "No one from Anglo has ever asked [and this is page 9 of your own, the annex, or annex 9, sorry]-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
John Paul Phelan: "[N]o one from Anglo has ever asked me to take action on their behalf or to make representations on their behalf." What was the discussion about on the night in question, unless they were asking you to take some action on their behalf or to make a representation?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
John Paul Phelan: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
John Paul Phelan: I'm not saying, by the way, that you were-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
John Paul Phelan: I'm not saying that you made a representation on their behalf-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
John Paul Phelan: -----but you stated in your own opening statement that you weren't even asked.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
John Paul Phelan: But what was the discussion about then?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
John Paul Phelan: Okay. Finally-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
John Paul Phelan: I just ... My final question then is in relation to the actual phone call which I touched on at the start. The options that were discussed ... I just want you to briefly outline them. Mr. Cowen, in his testimony to the inquiry said - and I want to quote him directly - he said:I phoned him and asked him what he thought of a guarantee option being used. Mr. Gray emphasised that providing a...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
John Paul Phelan: Okay. Sorry, it's been presented to the inquiry ... I misunderstood it if that's ... I wasn't trying to mislead myself. You state that you were asked to "obtain your views as a director of the Central Bank on the likely market reaction". The question - really, there's two parts - what were the options discussed? And which is, in your recollection, the correct recollection of events of...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
John Paul Phelan: One is a broader question. The market reaction is a-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
John Paul Phelan: The market reaction could be encapsulated in the broader term but I mean, what I'm saying is your initial statement or that statement in The Irish Timesspecifically said, "likely market reaction". That is a very narrow thing.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
John Paul Phelan: Thank you, Chairman. Mr. Gray, just returning again to annex 9 of your statement where you said, "No one from Anglo had ever asked me to take action on their behalf or to make representations on their behalf." I want to put a quote to you from a book produced by Bruce Arnold and Jason O'Toole called The End of the Party, page 15, specifically, where it states:When he was Finance Minister,...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
John Paul Phelan: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
John Paul Phelan: In your witness statement you advise regarding to the guarantee:I first heard of this as the main option being considered at an Emergency Joint Central Bank meeting on 25 September but it must have been worked on much earlier. The Governor of the Central Bank and the Department of Finance briefed the Board and indicated that a guarantee of the liabilities of banks was being considered. I...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
John Paul Phelan: Okay, so the second part is outside of who was involved ... so outside of the discussions with the banks and the domestic standing group were there others involved in that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
John Paul Phelan: Okay. Was the extent of the liability of the guarantee discussed or quantified?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
John Paul Phelan: Okay. Are you aware if discussions had already taken place either formally or informally with the ECB or other institutions about the suitability of a guarantee?