Results 10,361-10,380 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Did you or ... do you feel that you misled the public either intentionally or through omission as to the need for a bailout at any time prior to 21 November when the Cabinet made the decision to apply for one?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: What exactly was the miscalculation? Sorry, just to clarify, the miscalculation was agreeing to have the talks in Dublin or not telling the public?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Just going back a moment, on 13 November you had a meeting with Brian Lenihan and his officials. And, from that meeting, you say in your opening statement, in paragraph 203, "We had made no commitment at that point to formally apply for assistance until we were satisfied what the authorities had in mind and the conditionality attached to it." And "if discussions were to take place it would...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: I'm just wondering, what did the Cabinet know prior to the meeting of 16 November where they were brought up to speed? Because Kevin Cardiff talked about the guarantee being plan B from September. So, what did the Cabinet know before that point?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Is it fair to say that you and the Minister for Finance had brought the State in a certain direction, almost to a decision, without keeping the Cabinet fully informed?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Okay. Again, you said you "made no commitment at that point to formally apply for assistance until we were satisfied what the authorities had in mind and the conditionality attached". But whether or not burden sharing would be a part of that agreement wasn't one of those conditions that you decided to clarify before entering negotiations; is that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: But on the meeting of the Cabinet on 21 November at which the decision was made to then formally request assistance, can you outline the discussions that took place at that Cabinet meeting, whether alternative options were considered or any advices received for or against the decision?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: I asked a specific question?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Okay, okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: No, I understand.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: It's a Cabinet meeting on 21 November when the decision was made to begin the negotiations.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Was the decision to enter negotiations by the Cabinet then made on the expectation that there would be burden sharing?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Do you recall it being discussed or that expectation being amongst your colleagues at Cabinet?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: So, it was discussed, thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: It was then coming to the end point of negotiations. Why was Governor Honohan not present for the final meeting on 26 November, which has been described as "the showdown", where the troika staff told Brian, in categorical terms, that burning the bondholders would mean no programme and, accordingly, could not be countenanced?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Were you present?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Why were you not present?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: It was referred in evidence that the amount that could have been burden-shared was €18 billion to €19 billion of senior bonds, unsecured, unguaranteed, and that was the IMF proposal, and Kevin Cardiff confirmed this. So, do you not think that you should have been in that meeting, that showdown, where the issue of burden-sharing was finally resolved, given its importance to the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Should we have been in on that phone call with the G7 that decided, ultimately, the fate of the bailout conditionality?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Okay.