Results 3,661-3,680 of 16,492 for speaker:Ciarán Lynch

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

Ciarán Lynch: I know the feeling, Deputy, I know the feeling.

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

Ciarán Lynch: Okay, thank you very much, Deputy. I now move to the wrap-up. Just before I do, Governor, I just want to touch upon one question with you and that relates to the issue of foreign deposits repaid through the guarantee and you might be able to touch on this for us. Do you know if the Central Bank tried to analyse the amount of foreign deposits, in particular from French and German creditors,...

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

Ciarán Lynch: Thank you. Deputy Doherty, to wrap up, five minutes, and then Deputy Murphy.

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

Ciarán Lynch: What year on you on now, Deputy?

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

Ciarán Lynch: Final question now, Deputy.

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

Ciarán Lynch: We're going to lunch.

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

Ciarán Lynch: I'm going to move on then.

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

Ciarán Lynch: Sorry, it's ... I can bring you back in on this when you're questioning and you can return to this this afternoon, Deputy Doherty. Deputy Murphy to wrap up, please, and then we're going to close.

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

Ciarán Lynch: Thank you very much, Deputy. I now propose that we break until 2.30 p.m. So with that said, 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 or matters that are being discussed before this committee. With that in mind, I now suspend the meeting until 2.30 p.m. and remind the witness he is...

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

Ciarán Lynch: If members agree, we will go back into public session? Agreed. And we'll continue our hearings today with Professor Patrick Honohan, Governor of the Central Bank of Ireland. The Committee of Inquiry into the Banking Crisis now resuming in public session and can I ask members and those in the public Gallery to ensure that their mobile devices are switched off. So, welcome back, our witness...

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

Ciarán Lynch: Thank you Governor.

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

Ciarán Lynch: And members will have questions that they may wish to address with this, this afternoon.

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

Ciarán Lynch: And I may allow some time for that if needs be, if it's on this specific item.

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

Ciarán Lynch: All right. Indeed. On the ELA, Governor Honohan, had you an opportunity to address that, as to what was the extent of the ELA exposure to Ireland in around November 2010?

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

Ciarán Lynch: Perfect. Were you observing Mr. Cardiff's testimony yesterday?

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

Ciarán Lynch: Okay. Just for matters of consistency, there was three items I dealt with him, I just want to get them dealt with now and it'll bring us into the context of this afternoon as well. And the ... this is a question I put to Mr. Cardiff yesterday and if I could put the same question to yourself, Governor Honohan, and the question is, did the structure or design of the bank guarantee, along with...

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

Ciarán Lynch: Okay. So the discussions that were taking place with regard to the IMF, and broad discussions that a guarantee may be ... or a bailout may be entered into, was that on the basis that the guarantee was going to run out and something significant would have to be done?

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

Ciarán Lynch: And as we know from the, the bailout and from the adjustment programme that came with it, there was quite a significant Exchequer or structural deficit, in and around €30 billion, in regards to the State's solvency, regardless of what the banks were actually requiring in terms of ELA. So, likewise as the question was put to Mr. Cardiff yesterday, could I put the same question to you...

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

Ciarán Lynch: Was there any discussion between yourself and the ECB directly with regard to the potential concerns with regard to the State's solvency, that de facto, if the State was not solvent or was potentially becoming insolvent because of it's ... because of the structural deficit was facing, that the banks were de facto insolvent?

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

Ciarán Lynch: And just coming back to Mr. Cardiff's initial statement, where he commented upon Mr. Trichet's letter of 19 November 2010 to the late Minister for Finance. He said, "In many ways [the] letter was entirely superfluous, since it was already clear by the time of the letter that the Government was going to opt into a programme." Now, that would imply, in the same way that somebody would apply...