Results 9,921-9,940 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Marc MacSharry: It was late enough in the day. So, you had been articulating a position where you had concerns for the safety of State funds if they were put into Anglo Irish Bank and that would have been summer 2008, say?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Marc MacSharry: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Marc MacSharry: But I'm thinking about this exchange in the Taoiseach's office ... with the Minister and the Taoiseach.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Marc MacSharry: Who was?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Marc MacSharry: Right.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Marc MacSharry: Just to finalise things, was there no system formally where the NTMA could raise concerns with the Central Bank, the Minister, the regulator and say, "Look, we have concerns about A, B or C", or did everyone stay within their pigeonhole?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Marc MacSharry: Just one very last one and it's on a different subject. Perhaps some of the other questioners can tease it out a bit better. You mentioned the day that we had Mr. Trichet over and I'm sure we were all conscious of the first name terms, kind of, introduction that you gave on that day. Having known him over the years, did he ever lift the phone during the crisis and say, "Dr. Michael, what...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: You're at it again.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: That's okay. Thanks, Mr. Cowen, and you're welcome back. Can I ask, in Cabinet, your relationship with Brian Lenihan through the years, was it good?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: Was there often situations where, with Cabinet colleagues, including Mr. Lenihan, that you would seek advice and disagree?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: So if occasions came up from time to time, like they did where he favoured one particular line and you favoured another line, did discussion continue until such time as there were consensus, or did the hammer come down?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: So when you re-emerged from your private office to the main meeting, was there absolute unity in terms of the position being taken in terms of you're articulating to the rest of the meeting as the chairman of the meeting that we're going with the guarantee? Was Minister Lenihan full square behind you on that and articulating the same or had he gone home because you mentioned he left-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: Just ... so, for clarity, was, at this stage, Minister Lenihan 100% behind you saying, "Yes, okay, we're all going with this," or was he saying, "Jesus, Brian, don't do this"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: No, I get that. Can I ask so, if, in your view ... that Mr. Honohan's evidence, in that Minister Lenihan was overruled ... to your recollection and with hindsight, would that represent an unfair account of events?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: Okay. You mention that you had, during a break, consulted Brian Gray by phone, whose ... Alan Gray, sorry ... Alan Gray, whose opinion you respected and ... just to bounce a few things off and you talked about a guarantee and he pointed out to you the importance that there would be some kind of a fee for that guarantee, obviously, because of the European rules and so on. Did the banks look...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: No, I get that, but were they of the expectation or the demeanour that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: Did any ... just going to two final questions. When the nationalisation of Anglo was being contemplated at the end of 2008, was there any indications as to the scale of large loan exposures involving a small number of borrowers - for example, 70% were €50 million or more in value - or was this not clear until the later NAMA, kind of, analysis?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: Just, very finally - and we did deal with some of this but just conscious that people are watching at home - could you very briefly outline the chronological events that led from, say, the night of the guarantee, not nationalising, to then 15 January 2009 in terms of the decision to nationalise? So what changed that decision? What brought that on? Or were we, in fact, with the benefit of...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: And the Governor ... was he articulating to you that the Governor was very much-----