Results 3,981-4,000 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Ciarán Lynch: Okay. Thank you very much, Mr. Cardiff. I just want to deal with one matter that we dealt with ... Mr. Doyle yesterday afternoon and maybe we'll then go into question time straightaway. Was legislation already prepared for the nationalisation of Anglo Irish Bank on the eve of the guarantee?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Ciarán Lynch: Okay. How advanced and ready was that legislation? In simple terms, was it ready to go? And were all the politicians, advisers, officials and participants in the room that night aware of the advancement of that legislation?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Ciarán Lynch: Okay. So the-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Ciarán Lynch: Sorry.

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Ciarán Lynch: Okay. So could I maybe just conclude this line of questioning then before I bring in Senator O'Keeffe? Was legislation that was ultimately used in January ... in around January, four months later, for all sense and purposes, the same legislation that was available on the eve of the guarantee?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Ciarán Lynch: So, taking on board the comments that you made this morning with regard to the immediate difficulties that would arise if you were to activate the Bill on the eve of the guarantee ... however, something similar or that was evolved out of that was ... was passed in the House four months later - why did it take four months to nationalise Anglo when it was already cognisant of the Department and...

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Ciarán Lynch: The four-month gap was a policy decision. Okay, thank you. Senator Susan O'Keeffe. Senator, you've 25 minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Ciarán Lynch: Thank you very much. I just want to deal with one matter there with regard to the NTMA before I bring in Deputy Doherty, Mr. Cardiff. It's reference document DOF, KCA, and it's coming up on your screen there, it's actually ready to go, I think, at this moment. It relates to, it's about midway down the page, it says: In the NTMA, Brendan McDonagh and John Corrigan were my principal...

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Ciarán Lynch: What date was that, Mr. Cardiff?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Ciarán Lynch: Okay, so maybe you can explain to this committee, then, Mr. Cardiff, because Mr. McDonagh, in earlier testimony to this inquiry, said that the NTMA got a telephone call on the eve of the guarantee, that they arrived some time in the evening, to Government Buildings, they were approximately four or five hours outside a door, they were unsure as to what their purpose over there was, and that...

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Ciarán Lynch: I'll just deal with the NTMA business now and I take on board what you're saying there, but Mr. McDonagh in his testimony to this inquiry is that he and another official from the NTMA ... it wasn't anybody was trying to find them, they were in a room in proximity to where the discussions were located and that the only engagement that was discussed that night was an ancillary matter as to the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Ciarán Lynch: For what purpose?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Ciarán Lynch: So why were they called?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Ciarán Lynch: And the only discussion that took place was the ancillary matters as to how far the guarantee would extend to subsidiaries of AIB and other banks. So, was that the only requirement, in your view, that was required of the NTMA on that evening given that extensive discussions, you're saying now, were taking place with Mr. Somers?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Ciarán Lynch: What was the purpose of ringing Mr. McDonagh to get him over there? Was there a view ... it was just to have him inside in the room or was it that we need to speak to NTMA about specific matters?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Ciarán Lynch: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Ciarán Lynch: I'm sure you don't, yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Ciarán Lynch: And was it used on the night?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Ciarán Lynch: But on the night, was------

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Ciarán Lynch: Was there any other discussion other than discussion that Mr. McDonagh has given to this inquiry and I presume that you are familiar with the testimony that he gave? Was there any other discussion or any other advice or any other matters drawing upon the NTMA that evening, other than what Mr. McDonagh has told us which is, "Wait for approximately four hours - a brief discussion with regard...