Results 3,821-3,840 of 16,492 for speaker:Ciarán Lynch

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

Ciarán Lynch: Okay. So was the ... the position on 26 September generally reflected as being the same position on the 29th?

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

Ciarán Lynch: Okay. Thank you very much. We now proceed with our lead questioners this morning and if I can invite Deputy Eoghan Murphy. Deputy, you have 25 minutes.

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

Ciarán Lynch: You would want to move on to a final supplementary, Deputy, because I do need to move on.

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

Ciarán Lynch: Senator Marc MacSharry. Senator, you have 25 minutes.

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

Ciarán Lynch: What-----

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

Ciarán Lynch: Okay, thank you, Senator.

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

Ciarán Lynch: I'll bring you back in in the wind-up.

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

Ciarán Lynch: I just want to deal with three items there before I move on with the next round of questioners, Mr. Cardiff. Just to put the question to you and that is: did the structure or design of the bank guarantee, along with its period of duration, have any bearing on the Irish State entering a bailout programme two years and two months after the bank guarantee?

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

Ciarán Lynch: So, given what you're saying there about the banking guarantee and the cliff that was relating to it, the structural deficit that was in place, the funding cliff that was arising out of the banking guarantee and the sovereign relationship to the banks because it was a written guarantee, as opposed to a political guarantee, could I now ask you were Irish banks that were covered by the...

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

Ciarán Lynch: And going back to your earlier comments, between fundings for the bank and funding for the State, I think when you were talking to Deputy Murphy, IMF funding would help the State to deal with its deficits and the European Central Bank was dealing with the bank liquidity issues. Given that the adjustment programme ... that the bailout programme actually brought was approximately addressing a...

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

Ciarán Lynch: Okay. In your witness statement, when you were with us last, you comment on Jean-Claude Trichet's letter of 19 November 2010 to the late Minister for Finance and your comments were, "In many ways, this 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." Speaking on the same, related matter, Jean-Claude...

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

Ciarán Lynch: So to return to the question again, and as you indicated there, the pension reserve fund, for instance, was indicating that current expenditure may be possibly maintained up to July 2011, that the cost of outgoings were in or around the level of expenditure that the pension reserve fund would be depleted by July of '11. But to come back to the question, was the entry into the programme in...

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

Ciarán Lynch: How so?

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

Ciarán Lynch: Yes.

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

Ciarán Lynch: Thank you very much, Mr. Cardiff. Senator Michael D'Arcy.

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

Ciarán Lynch: Can you make a reference to that, Senator, please?

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

Ciarán Lynch: I think I actually have that, that's the e-mail document you're talking about?

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

Ciarán Lynch: Yes, that's referenced I can get that up on the screen there for you.

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

Ciarán Lynch: You referred to this e-mail yourself in your testimony last week, Mr. Cardiff.

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

Ciarán Lynch: Senator, I'd usually advise members to maybe just talk to legal beforehand.