Results 4,401-4,420 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Ciarán Lynch: Thank you very much. Deputy Murphy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Ciarán Lynch: Thank you very much. I'm just going to move to wrapping things up. I have just one or two questions that remain outstanding and I just need to round off some matters with you as well, and then I'll invite the two leads and bring matters to a conclusion. If there is anything you'd further like to add at that time, Mr. Doyle, you are more than welcome to. If I could just return to the issue...

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Ciarán Lynch: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Ciarán Lynch: And ... and you have no information in that regard, no?

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Ciarán Lynch: Okay. On the eve of the guarantee, was there a sum put on how much Anglo would cost if it were nationalised or during that broader discussion period?

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Ciarán Lynch: Okay, okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Ciarán Lynch: But ... but wiping out the shareholders, yes-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Ciarán Lynch: But we ... we know all that happened and it happened after your tenure. I want to come back to your tenure, which is, on that eve ... was a costing put on how much it would cost to nationalise Anglo? You say ... you've indicated there that part of the nationalisation process would be to take out the shareholder base. That's one cost eliminated immediately. There's also the borrowings that...

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Ciarán Lynch: I still don't understand and I'll just repeat the question once more and I will, maybe, press you to answer it. Was there a cost put on ... you've confirmed earlier this evening that there was specific legislation with Anglo in mind with regard to its nationalisation. In that period, was there any costing put on what this action would cost if we were to enable this draft...

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Ciarán Lynch: During the guarantee period.

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Ciarán Lynch: Sorry, but I have to force you here now. I try not to interrupt, Mr. Doyle, but we know that a Bill was prepared. What I am asking is you, you said that everybody was cognisant of it but it wasn't on the table. Were people cognisant of the figure in their head even though it might not have been on the table and if they were, could you inform us what the figure was?

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Ciarán Lynch: Okay. I will give you time for a longer answer if you give me a figure.

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Ciarán Lynch: I need a figure. You can talk all day if you want but do you have a figure at the end of it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Ciarán Lynch: We will cover this with Mr. Cardiff tomorrow because that's during his tenure; it's not during yours.

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Ciarán Lynch: I will wrap up with this. Just on the night of the banking guarantee, the question has it been solvent or not solvent, the proposition was put forward, I think, by Mr. Trichet when we met with him because the State were guaranteeing them they were de facto solvent, because the State was solvent. Would you concur with that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Ciarán Lynch: Because the State was now guaranteeing them they were de facto solvent.

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Ciarán Lynch: So they were de facto solvent because the State was now standing behind them?

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Ciarán Lynch: Did the banks in that regard remain solvent from September 2008 up to the end of your tenure as Secretary General of the Department of Finance?

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Ciarán Lynch: The State was standing behind them and the State was solvent. So I'll repeat the question to you. Did the banks remain solvent right up until the end of your tenure as Secretary General of the Department of Finance?

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Ciarán Lynch: Can I then return to the e-mail that you introduced earlier this afternoon and it's the correspondence to William Beausang from Brendan McDonagh? It's the third paragraph of it; actually I think it's the fourth paragraph of it. This is actually, I think, is in the Beausang documents but you actually introduced it this afternoon. You are familiar with the e-mail that you were talking about...