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

Ciarán Lynch: And the funding you're talking about now ... just to clarify, is that funding specific to the banks or funding specific-----

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

Ciarán Lynch: So that's the Exchequer deficit being-----

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

Ciarán Lynch: -----being met as well?

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

Ciarán Lynch: So, by turn, if a programme had been entered earlier than November 2010, would the cost ... or was there an opportunity for the cost to be potentially less?

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

Ciarán Lynch: Okay. So, ultimately, was it your ... I will ask you your opinion, was an entry into a bailout programme necessary by that period?

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

Ciarán Lynch: And, in any way, did that necessity motivate your thoughts to make a public declaration on what was actually happening at that time?

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

Ciarán Lynch: Thank you. So our first lead questioner this afternoon is Senator D'Arcy. Senator, you have 25 minutes.

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

Ciarán Lynch: Yes.

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

Ciarán Lynch: Okay, I think, Deputy-----

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

Ciarán Lynch: Move on from that. Thank you very much.

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

Ciarán Lynch: Can I just clarify one thing, Mr. Honohan?

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

Ciarán Lynch: Did you instigate the call or did RTE contact you?

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

Ciarán Lynch: Okay.

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

Ciarán Lynch: Okay.

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

Ciarán Lynch: Mind your language, now, you can ask a question, yes, but be careful of any value judgments in it, and you have about seven minutes to go.

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

Ciarán Lynch: I am very simply stating, Mr. Honohan, I just need to get through a particular line of questioning with you this afternoon and I note that the Robert Ludlum stuff and all the rest of it can be very interesting and colourful but there are some factual matters relating to what happened here in Ireland that we need to get through.

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

Ciarán Lynch: And if members can rely upon the core documents that we have where we spent months of researching them rather than going down to the library to pick up something that might be a thriller and might help us in our final report as well. What I want to focus in upon, particularly with the question that Senator D'Arcy put to you, is there is a document up on the screen there and it's a statement...

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

Ciarán Lynch: Okay, thank you. Deputy Joe Higgins ... no, I'm moving on ... we're way over time, Sir. I'm moving on. You'll come in the wrap-up. Deputy Higgins.

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

Ciarán Lynch: Phone interference there coming in, Deputy Higgins. It may not be yourself but it's coming from the proximity, so please continue to question but I ask members to now turn off their phones.

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

Ciarán Lynch: Thank you. Thank you, Deputy Higgins. Just a ... on one matter from Deputy Higgins, and just returning to something earlier as well, Deputy Higgins raised the issue with regard to white collar crime. And even moving aside from white collar crime there's the issue ... the difference between bankers and banks. When your colleague was here recently, Mr. Roux, a question was put to him and...

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