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Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Senator O'Keeffe, can you move away from the colour and move back to the facts, okay please?

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Can you go back to the evidence please?

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: In terms of understanding, the crisis I'd ... it gives a bit of colour but not really-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Please, move on.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Time now, Senator.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Thank you, Senator. Mr. Cowen, I just want to deal with one more question and then I propose that we take a short suspension. So just one question before we go. I just want to revert back to your opening statement of this morning and it's point 79 of your opening statement in setting out your reasons for making the decision for ... to guarantee the banks, you say: "It was strongly stated...

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Just to kind of reshape the question and I totally understand what you're saying, Mr. Cowen, you're in a crisis-driven environment, you're dealing with the information that's to hand, and to apply a sort of counter-narrative and counter-analysis to that, with hindsight, doesn't properly capture the context of that situation. But I suppose the core to the question is, if a true financial...

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: As I've said, Mr. Cowen, I appreciate all that and that the ... it's a crisis-driven situation and so forth, and concerns with the ATM machines and all the rest of it. But to come back to the core of the question, was the best available information-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: -----made accessible to you that evening?

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Thank you. With that said, I now propose that we break until 12 noon. In doing so, the witness is reminded that once he begins giving evidence he should not confer with any person other than his legal team in relation to the evidence and matters that are being discussed before the inquiry. With that in mind, I now suspend the meeting until 12 noon and remind the witness that he is still...

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: So I will just say members again with their mobile phones and anybody in the public Gallery with a mobile phone as well, just to make sure it's in appropriate mode. Right. So I now propose that the committee go back into public session and in bringing the committee back into public session, I now propose that Deputy Higgins will take the questions. Deputy, you have ten minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Stay away from that now, Mr. Cowen, please.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Allied Irish Bank, is it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Final supplementary, Deputy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Mr. Cowen.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: -----very quickly.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: All right, thank you. Deputy Michael McGrath. Deputy?

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Thank you very much. Deputy Kieran O'Donnell.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Question now, Deputy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Sorry, Deputy. Now, excuse me one second, Mr. Cowen.

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