Results 4,661-4,680 of 6,295 for speaker:Michael D'Arcy

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: Number one is number one.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: And you've commissioned research, NAMA have ... you've commissioned research?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: Will they be made available?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: They will; good. Mr. McDonagh, can I ask you ... you had a better insight than most people in relation to the condition of the banks with the numbers that were made available to you in summer '09. In your view were the banks solvent or not on the night of the bank guarantee? You had sight of practically all of the information within nine months.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: And what was your view? What is your view?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: The €42.2 billion Mr. Daly, or Mr. McDonagh that you said ... you said the banks would not perhaps have returned, wouldn't see much of the €74 billion and that they will see all of their €31.8 billion from yourselves, plus the subordinated moneys. How much of the €42.2 billion will they see from the banks?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: The bank guarantee, we were informed, would be the cheapest in history. We were told €4 million to €5 million; the expectation was NAMA would have a write-down of less than 30%, it was double that. Did the bank guarantee and then the establishment of NAMA with the crystallisation of the losses to the banks, did that lead to the national bailout in your view, Mr. Daly?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: But you were not clear about the 58% write-down-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: Thank you. Mr. McDonagh you used what I consider an unusual statement, you said the Minister for Finance was sent home. You did.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: No, sorry Chairman Mr. McDonagh said ... allow me finish please, you subsequently said the Minister for Finance went home. Was the Minister for Finance sent home or not?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: To your knowledge what time did the Minister leave at?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: What time did you meet with the Taoiseach at when the Minister was not there?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: Two o'clock?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: You said yourself you were surprised that the Minister wasn't there, there were important ... the question that was put to you while the Taoiseach was present in relation to the potential exclusion of the non-Irish subsidiaries, that would have been a significant question to be answered.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: A technical question that could, or may not have been an additional cost or lesser cost for the State if the non-Irish subsidiaries had been excluded?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: Should the Minister for Finance have been available for that conversation with you?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: I'm asking your opinion.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: Did anybody tell you the Minister had been sent home?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: No-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: In your view, as somebody who has experience in that area of potential damage to the sovereign in terms of raising funds, were all the details in relation to the bank guarantee concluded before the Minister for Finance had left?