Results 4,141-4,160 of 16,492 for speaker:Ciarán Lynch

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

Ciarán Lynch: Thank you very much. Next questioner is Senator Sean Barrett.

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

Ciarán Lynch: Let me reframe that question for Senator Barrett, because it has come up here, is that you had traditional, conservative banks that lasted for sometimes ... almost millennium - well, certainly for centuries, and that, in a very short period of time, became maybe a different type of company and consequently ended up in a crisis or in a bankrupt or insolvent position.

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

Ciarán Lynch: Sometimes the culture, how financial institutions manage themselves-----

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: Thank you, Senator, I'll bring you back in ... in a moment, later on. Deputy Joe Higgins. Deputy, six minutes.

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

Ciarán Lynch: Final supplementary, Deputy.

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

Ciarán Lynch: You can indeed, up in the lobby later on. Deputy Michael McGrath.

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

Ciarán Lynch: Okay, thank you very much. Senator Marc MacSharry.

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

Ciarán Lynch: Thank you, Senator. If I could maybe just come in with a question or two myself there at the moment, Mr. Moran. And, upon taking up your position and coming in to the role that you had, did you see your role primarily as dealing with cleaning up a banking crisis, or a banking legacy issue, or a fiscal crisis, or, in terms of which were the bigger challenges, was it the outlying banking debt...

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

Ciarán Lynch: Okay. And in terms of the structural shortfall that was there, what was that sum that you were correcting on a year by year basis as head of finance? There was a structural deficit.

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

Ciarán Lynch: And in billions, how much was that?

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

Ciarán Lynch: Okay.

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

Ciarán Lynch: And that brings me to my next question. In terms of fixing difficulties with the structural deficit, which you've just indicated was not dealt with on a compound basis, as you just outlined, was there potential for that to actually to become a bigger financial sum than the legacy debt from the banking crash?

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

Ciarán Lynch: So, in that regard, can I maybe just bring you to a question: was there correspondence circulated that you may be familiar and or may have a sight of ... correspondence in around September-October 2010 because there was this exposure ... that the country needed money to pay the bills every week ... forget about how bad the mortgage had actually become inside the banks. Civil servants need to...

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

Ciarán Lynch: Funds are-----

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

Ciarán Lynch: Okay. The question I am asking you, we know that the banks needed the funding and we knew that we had a shortfall, which is then ... and you use the analogy of being similar to the Greek dilemma. The question I am putting to you is that we ... funding was needed for both and was the requirement for one funding potentially jeopardised or would ... was the ECB alluding that if you didn't...

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

Ciarán Lynch: Well, I don't want hearsay.

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

Ciarán Lynch: Deputy Pearse Doherty.

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

Ciarán Lynch: We don't really have time for this because I was going to ask you this question anyway.

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

Ciarán Lynch: The reason I am facilitating this is that this is new information to this inquiry. A lot of stuff is around the guarantee, some stuff is around the bailout programme, but the ... dealing with the promissory note in IBRC is an important gap in this inquiry's work. So I will let you finish now and I do know Mr. Noonan's is coming back. Deputy Doherty.