Results 3,261-3,280 of 6,295 for speaker:Michael D'Arcy

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael D'Arcy: Yes ... sorry?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael D'Arcy: Sorry, it's part of the documents ... it's appendix that was-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael D'Arcy: Its on the screen: "The dept of finance is worried that people will call the government's bluff". So, he was stating that the Department of Finance were concerned that potentially the markets, would consider this a bluff. The NTMA, in evidence, were concerned that the markets would interpret it in a similar way and as we know, they were excluded from the conversation. Similar question for...

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael D'Arcy: And in the conversation between, I assume Minister Lenihan, in contacting the other members of Cabinet, did he state that it was a liquidity crisis, a liquidity problem, and not a solvency, to Ministers?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael D'Arcy: Okay. Can I ask, Ms Harney please, on 30 September, Morgan Kelly was on "Prime Time", he was interviewed with Brendan Keenan and he stated - this is a general run of what he stated - that the Irish liquidity crisis was as a result of the markets' understanding-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael D'Arcy: That the markets' understanding was the standard of the Irish loan book. The markets understood the loan book, they understood that liquidity crisis was worse in Ireland than anywhere else and there was that reason why there was no funds available. Did you hear Morgan Kelly, Ms Harney?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael D'Arcy: Were you aware of his concerns?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael D'Arcy: He was right and they were wrong?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael D'Arcy: Could you expand on "As it happens", please?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael D'Arcy: I mean, it's a rather-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael D'Arcy: -----glib answer to a €64 billion gross liability.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael D'Arcy: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael D'Arcy: The question was, you said, "As it happens". I asked you, he was right and all the Government advice was wrong, and you said "As it happens". Could you expand upon that please?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael D'Arcy: Can I advance the conversation-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael D'Arcy: -----Chairman, please? In terms of NAMA - you brought up NAMA, Ms Harney, the €42 billion discount - Minister Lenihan was at pains to stress that the discounted money would still go ... the assets and liabilities would transfer together and that the discount ... that the State would get back the discount because the individual who borrowed the money would still owe the money. How...

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael D'Arcy: Thank you, Chairman. Ms Clarke, you're very welcome.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael D'Arcy: Why, as a mutual building society, did EBS see it as strategically appropriate to enter the commercial lending market?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael D'Arcy: You weren't a member of the board at the time, no?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael D'Arcy: Okay. The level of profits ... sorry, level of profit growth 25% per annum might seem ambitious in a mature market, could you expand upon that please?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Michael D'Arcy: Was there any consideration given to the fact that during this period the other banks in the Irish market were also seeking double-digit growth?