Results 3,281-3,300 of 7,082 for speaker:John Paul Phelan
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
John Paul Phelan: Can you understand then the ... I suppose frustration, to some extent, that people might express that, you know, on the night of the guarantee decision itself ... that there wasn't a fuller basis of information for the Government available, particularly on the two, kind of, crisis institutions before they were included in the guarantee. Why was there no direct action by the Department or...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
John Paul Phelan: I want turn in my two minutes that I have left to page 6 of the financial stability issue. And now, I'm not sure exactly if it's in your core documents, but it's scoping paper DOF03183-006, and I presume that can be got up on screen. There's a quote that I want to put to you from that particular document. If it ... stop the clock, John.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
John Paul Phelan: Okay, the quote is: The costs of insolvency should not transfer to the State simply because the institution in question is a bank (or other financial institution). The role of the authorities is to maintain financial stability and not to bailout shareholders of insolvent institutions. Thus, the preferred outcome for an insolvent institution may be its failure and subsequent orderly...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
John Paul Phelan: Thank you.
- Written Answers — Department of Social Protection: Community Employment Schemes Eligibility (18 Jun 2015)
John Paul Phelan: 49. To ask the Minister for Social Protection if consideration will be given to permitting those participants on community employment schemes who are 60 years of age and over to remain on the schemes indefinitely until retirement age; and if she will make a statement on the matter. [24335/15]
- Written Answers — Department of Health: Hospital Services (18 Jun 2015)
John Paul Phelan: 213. To ask the Minister for Health if he will reverse any proposed change to the current configuration of a surgical ward in a hospital (details supplied) in Dublin 9 to a geriatric ward; and if he will make a statement on the matter. [24336/15]
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Thank you, Chairman. Good afternoon, Mr. Cardiff. In relation to the OECD reports, which Deputy O'Donnell just touched on, from 2006 to 2008, can you outline for the inquiry if there was a discussion within the Department on the findings of those reviews, in particular with regard to house price inflation and the financial health of the banks?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Can you recollect-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Can you recollect any action being taken on foot of them?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Thank you. On page 3 of your opening statement you describe a crisis simulation exercise as being "carefully constructed". It involved the Department of Finance, Central Bank and the regulator, conducted in 2007 on a potential bank failure. I'd ask you to comment on that description and how it fits with the fact that the exercise lasted less than three hours. It was described by Governor...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Okay. I just want to turn to INBS and refer to page 4 again of your opening statement where you say "in the first half of September 2008, when it was clear that INBS was in ... difficulty, I told the staff in the [regulator] that [Bank of Ireland] ...and ... AIB ... would have to be called in to assist in a resolution for [Irish Nationwide]". What did you mean by the term "resolution"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Okay. Can you understand then that if you felt that that resolution had to be reached, that, you know, people watching might have difficulty in accepting that, you know, the guarantee subsequently, which you were part of the decision to take, included guaranteeing Irish Nationwide? That if you felt in, in those comments in early September 2008 that a resolution had to be reached, reached...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: Okay. My time is running out, I'm sorry, I'm not trying to cut you short but, again, on page 12 of your statement, you pointed out ... and that on the night on the guarantee in the room "...once guaranteed they could not in any circumstance be allowed to fail – and so any capital or cash shortfall would have to be addressed". At that point in time, did you believe that there was...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
John Paul Phelan: They said, and I'm not just trying to interrupt you ... they said, and Mr. Goggin's evidence was that, because the budget was approaching, that they decided not to approach the Government at the time, but on 13 October, they were exploring the option of capital investment from the Government and, therefore, from the taxpayer.