Results 741-760 of 4,414 for speaker:Sean Barrett
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Sean Barrett: Yes, thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Sean Barrett: Thank you, Chairman, and welcome to our two former Tánaistes. Could I ask Mr. Gormley, on page ... the bottom of page 12 and the top of page 13 where you say, on the Department of Finance, that you encountered "stern resistance ... from the Department to our suggestion that [a] ... review of the economic crisis should include a review of the Departments own performance in the years...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Sean Barrett: Would you have put more things into the Wright report?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Sean Barrett: Have you anything further on the push-back against your attempt to analyse the performance of that Department up to 2008?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Sean Barrett: On page 8, you have that "The level of emergency liquidity coming from the European Central Bank had reached [...] €130 million and market confidence in Ireland was falling". Was that number monitored regularly by the Cabinet?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Sean Barrett: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Sean Barrett: Yes, I'd like the smaller number as well, yes, yes. But was that number - in billions - was that monitored by the Cabinet?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Sean Barrett: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Sean Barrett: So the alarm bells should have gone off, if we knew that was ... it didn't just arise, €130 billion-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Sean Barrett: -----on that day.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Sean Barrett: Could I turn to Ms Harney briefly? And we are time constrained. Wouldn't the fact that the NTMA began to get wary of Irish banks before any other body in the public sector ... was that not a case for a greenfield site ... your original proposal, a greenfield organisation, that the one that was outside the system picked up on its antennae that Irish banks were in trouble long before the rest...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Sean Barrett: Well, it is an example of an organisation that got out of the Department of Finance and went off on its own way rather than-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Sean Barrett: Yes. Mr. Gormley-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Sean Barrett: But it did have better economic intelligence in this matter?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Sean Barrett: Now, the €100,000. Was there a discussion on that, the €100,000 deposits protection when that was introduced in mid-September? I think, 19 September 2008. Was that discussed? It's probably a question to you both. Was that discussed at the Cabinet?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Sean Barrett: I think you're right.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Sean Barrett: Thanks, Chairman, and thank you very much both.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Sean Barrett: Thank you, Chairman, and I echo with the Chairman's welcome to you here this evening. Just in your own address to us, that you sent in in the core documents you said the traditional conservative approach to lending in EBS unravelled in the period 2000 to 2007. Would you like to expand on that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Sean Barrett: There's two examples of the unravelling that you described. Book 1 at page 143 and book 1 at page 147. The first one refers to loan approvals of €54.7 million sought for noon the following day, increasing the connected exposure to €88.7 million, and the second one is a 24-hour turnaround for approval for €23.96 million. It's hard to imagine anything further from the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Sean Barrett: Okay. I see, on page 4 of your document to us, "Having recognised that it could not survive in its current form, EBS was [doing the things you just described]". Mr. Murphy did present to us that it could've survived and that building societies of the traditional kind have survived in the United Kingdom, for example. Did we throw out the wrong kind of organisation?