Results 9,441-9,460 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: And the inability to get political consensus. I mean, to what extent did that delay the process and to what extent was that frustrating the efforts of the Minister and the Department?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: In the chapter you contributed on the book on Brian Lenihan, you wrote that Minister Lenihan learned that one of the banks, AIB, was covertly briefing against NAMA. At what level was this happening and what did those briefings involve? And were you aware of other banks doing this?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: Was it the view of the Minister or the Department that the banks were actively trying to delay NAMA or interfere with its establishment?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: Did this opposition from certain bankers or banks ... did it interfere with or slow down the NAMA process?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: Thank you. You also write about, in your opening statement, about Professor Schoenmaker and the successes of NAMA. And you wrote about the relative freedom that the agency had to manage the assets. But, what about the lack of flexibility regarding the bond repayment schedules that were entered into on behalf of NAMA? Did this result in a rush to sell prime assets to meet these early...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: So you wouldn't think there's an argument for trying to restructure the repayment schedule, given what we now know in terms of the rising value of assets? You know, because we talk about the initial costs of the bailout and then the potential for NAMA to reduce some of that cost direct through its work-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: -----by selling assets maybe too early and not holding on to them long enough, the ability to reduce that cost further is restricted.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: Okay, and then just the understanding in the Department as to the purpose of NAMA when it came to the actual developers, the people who had the loans, and what they were pursuing, because I'm just wondering did the targets change or was NAMA always meant to only be pursuing for the costs that they paid, or were they meant to be pursuing for the full costs the banks paid when it came to the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: Okay, thank you. Just to move on then if I may, when you entered the Department, and what the sense was in the Department of the need for a bailout. When did that start to come into your view, as an adviser to the Minister, because we have from other evidence that it occurred to some people in the Department around the time of the guarantee, that something like that might be needed down the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: When was that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: April 2009.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: And he met with, was it a retired IMF official?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: Okay, and that was, do you know how that was initiated, that meeting? Was it-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: But the outcome of that meeting was-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: When that meeting happened in April '09, a document came to you. Was that what you said, that there was a document?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: Was that document, was there any action taken as a result of that document? Do you know did it go to Department of Finance officials?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: So it wasn't necessarily sketching out an Irish-specific programme.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: So did the Minister inform you of Governor Honohan's opinion in April 2010, that we'd be next for bailout after Greece?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Eoghan Murphy: No, okay. Were you aware that the IMF had suggested to Governor Honohan around that time, in May it was, a precautionary line of credit for the country?