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

Ciarán Lynch: And at any of those earlier meetings, had you expressed a preference for an all-inclusive guarantee that would be inclusive of Anglo?

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

Ciarán Lynch: All right, last area then. Whose decision was it to bring the NTMA over to Government Buildings that night? Who said, "Make the telephone call and get them over here?"

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

Ciarán Lynch: So it was Mr. Cardiff's decision to bring them in or to call them over. Is that what you're saying?

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

Ciarán Lynch: When Mr. Cardiff was before the inquiry the question was actually put to him as to what was the purpose, and I think it was Senator D'Arcy actually at the time when he raised it, were the questions if he could afford some insight into why people in the room were asked the questions and why Brendan McDonagh and the NTMA were in the room next door and that question was never put to them. Mr....

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

Ciarán Lynch: In giving us this testimony this afternoon, Mr. Cowen, do you have a view on whether you should have known that the NTMA were outside the room and how do you view that now?

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

Ciarán Lynch: By?

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

Ciarán Lynch: There's a difference between being cognisant of someone's view and a view being articulated. Somebody being in a room would be articulating and presenting a view, maybe being conscious of a view or something such as papers may be put into the room. So would you------

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

Ciarán Lynch: Okay.

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

Ciarán Lynch: Was there a conference call made to Mr. Somers that evening?

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

Ciarán Lynch: Okay. And so ... I'm still trying to come to the explanation as to why ... we know later on in the afternoon ... in that evening, the NTMA were used for one explicit very enclosed reasoning ... or reason, which was to examine the extension of the guarantee for ... the subsidiary of ... branches of Irish banks abroad and all the rest of it.

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

Ciarán Lynch: Okay, when was the last time you spoke-----

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

Ciarán Lynch: When was the last time you spoke to somebody from the NTMA before the guarantee that night? That you physically spoke with somebody?

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

Ciarán Lynch: Okay, and who was that?

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

Ciarán Lynch: Okay, and you've ... earlier there, in your comments with regards to your discussions with Mr. Doyle, you said that the general discourse of the-----

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

Ciarán Lynch: Exactly, and that's the point I am making. In your earlier testimony just a few moments ago you said "Mr. Doyle was not cognisant of any view with regard Anglo being included in the shape and design of the guarantee". And I am assuming that you wouldn't have had that discussion with Mr. Somers or Mr. Corrigan that afternoon either because, by your own testimony-----

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

Ciarán Lynch: Yes.

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

Ciarán Lynch: Okay, it's from Kevin Cardiff and the Merrill Lynch document that you became aware of the NTMA's view that they were not in favour of including Anglo in the guarantee, that they were in favour of a nationalisation-----

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

Ciarán Lynch: At no time the NTMA told you that?

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

Ciarán Lynch: Okay. And in your discussions two days beforehand, that wasn't on as an item of discussion either, no?

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

Ciarán Lynch: There's a bit of ... maybe it's myself now but there seems to be a bit of an incongruence here, Mr. Cowen. You say that two days earlier the discussion ... there was no discussion about Anglo and being nationalised. Are you now saying that there was a discussion about Anglo being nationalised two days beforehand?

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