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Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future
(30 Apr 2015)

Michael D'Arcy: Yes.

Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future
(30 Apr 2015)

Michael D'Arcy: Yes.

Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future
(30 Apr 2015)

Michael D'Arcy: It is unbelievable you were kept in the dark.

Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future
(30 Apr 2015)

Michael D'Arcy: It is unbelievable that you were kept in the dark as the president of the ECB.

Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future
(30 Apr 2015)

Michael D'Arcy: Is it believable?

Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future
(30 Apr 2015)

Michael D'Arcy: Is it believable?

Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future
(30 Apr 2015)

Michael D'Arcy: Can I ask you Mr. Trichet -----

Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future
(30 Apr 2015)

Michael D'Arcy: It was a guarantee. As you know.

Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future
(30 Apr 2015)

Michael D'Arcy: Yes.

Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future
(30 Apr 2015)

Michael D'Arcy: Can I ask you Mr. Trichet, if you got a phone call during the night of 29 September 2008 and been told that the Irish Government had decided that Anglo Irish Bank and Irish Nationwide Building Society were being allowed fail as a result of their insolvency, what would your reaction have been?

Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future
(30 Apr 2015)

Michael D'Arcy: Exactly the question is if you had got a phone call during the night -----

Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future
(30 Apr 2015)

Michael D'Arcy: Yes.

Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future
(30 Apr 2015)

Michael D'Arcy: That Anglo Irish Bank and INBS were going to fail the next day, what would your reaction have been?

Committee of Inquiry into the Banking Crisis: Institute of International and European Affairs
Governance of the ECB: Past, Present and Future
(30 Apr 2015)

Michael D'Arcy: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael D'Arcy: Thank you, Chairman. Mr. Buckley, the AIB loans transferred to NAMA, had a discount of 56%. Were you surprised and can you comment on that reduction, please?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael D'Arcy: The reason I ask you Mr. Buckley was because you had 53 months in as CEO or thereabouts and I think Mr. Sheehy you had a little bit less.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael D'Arcy: Yes. You seem very arms length in relation to everything. In relation to AIB.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael D'Arcy: Mr. Buckley have you ... did you have any retail banking experience in Ireland?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael D'Arcy: Did-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Michael D'Arcy: Did Mr. Forde, who was appointed head of retail Ireland, have any retail banking experience?

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