Results 3,221-3,240 of 7,082 for speaker:John Paul Phelan

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

John Paul Phelan: Can I just move quickly to another question on outside advice. Can you outline the type of external advice now sought and received by the Central Bank to facilitate the delivery of supervisory responsibilities, and in what circumstances does the Central Bank seek such external support, from whom do you seek it and to what extent do you avail of it, I suppose, in the ongoing work?

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

John Paul Phelan: ...just as a matter of interest, again without getting into too much specifics-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

John Paul Phelan: I now want to turn briefly again to the discussion that was had earlier with Senator D'Arcy, although I don't have any movies or books with me, but in your statement, you referred to the 19 November letter as being "gratuitous", which is, some might say, a somewhat strong word, in light of the fact, as you said, that discussions had already commenced. Why did you yourself feel the need to go...

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

John Paul Phelan: Did you ask the Minister or any member of the Government to make a similar interjection before you made that phone call?

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

John Paul Phelan: I suppose the point I am getting at and it's not my own point, it's a point that has been made by politicians and commentators, is that your intervention was perceived by some to perhaps stray beyond an economic intervention, that is was close to the edge of almost a political intervention. Do you think that that criticism-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

John Paul Phelan: Can I ask you did it have any immediate effect on the pace of deposit withdrawals, which was part of the reason that you had expressed for making the call?

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

John Paul Phelan: Do you believe that your intervention brought forward the eventual agreement on a bailout deal?

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

John Paul Phelan: Can I ask you-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

John Paul Phelan: Okay. I want to refer to your evidence from earlier where you spoke about the groundwork being laid by Mr. Lenihan in early October 2010 for the bailout. On the political side or, indeed, on the official side, who was involved in that groundwork? Was it just himself or ... You said that the early groundwork for a bailout was taking place in October 2010. Do you believe that anybody else...

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

John Paul Phelan: Okay. My brief closing one ... it's been raised by a number of members of the inquiry with different witnesses about the nature of your role as Governor of the Central Bank and your role as a member of the governing body of the ECB and I just really want to firstly ask you, is there a laid-down protocol as to how the functions work together? And, secondly - my time is up today so I have to...

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

John Paul Phelan: Have you ever had to do that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

John Paul Phelan: Thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

John Paul Phelan: Thank you, Chairman, and good morning, Mr. McCarthy. Can I just start with that document just referred to previously by Senator Barrett, Vol. 3, the document that you refer to as not being ... you know, the notes being written on it were not your own? Page 9 of Vol. 3, the executive summary. I'm very good on executive summaries usually myself. On that particular page, the word "boom" has...

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

John Paul Phelan: Well, the ... the level-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

John Paul Phelan: Why would you think that the word "boom" was being circled?

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

John Paul Phelan: Well, that's, I suppose, one way of looking at it.

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

John Paul Phelan: Yes. Yes, that's fair enough. I suppose, I want to also refer to another document-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

John Paul Phelan: Okay. Vol. 2, page 105, which is a document prepared by yourself for the Tánaiste and Anne Donegan. The second paragraph of that document: In summary, the OECD is forecasting a growth rate of [around] 3 per cent next year, with a slightly stronger pickup than we have assumed in 2009. However, the language regarding Ireland is somewhat 'sensationalist'; we proposed (on a number of...

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

John Paul Phelan: Was it common for the OECD to use that term "sensationalist" style of language?

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

John Paul Phelan: Was it common for them to use ... like, you're ... I'm referring to-----