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Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Joe Higgins: Vol. 2, 9 June 2015, page 6.

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Joe Higgins: One for the Department of Finance-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Joe Higgins: The one with dates on them.

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Joe Higgins: 9 June, but it'll come up on the screen anyway.

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Joe Higgins: This relates, Mr. Doyle, to a meeting organised by the Regulator with the main banks and Irish Nationwide, etc., and in page 6, at the bottom half of the page, meeting 5. I'll just take a sentence from that ... two sentences from that paragraph. It says, "The banks [this is a minute of the meeting] ... The banks reiterated that it was not a realistic proposition for either institution...

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Joe Higgins: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Joe Higgins: The nub of my question, Mr. Doyle, essentially, because of time, is this, with all that evidence, a person might say ... an ordinary person might say that it was blindingly obvious that main players were saying "INBS is finished. It's a bust bank." And my question to you then is this, on the night of the guarantee, was there a discussion on the seriousness of INBS's alleged hole, according...

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Joe Higgins: But that's not the question I've asked-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Joe Higgins: Was there a major discussion on how serious the situation was and that this was in fact insolvent?

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Joe Higgins: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Joe Higgins: Yes. And in Vol. 1 and Vol. 2, I don't have time to quote it, Mr. Doyle, but you can take my word that it's here, both Merrill Lynch said that INBS loans were €11.7 billion, and that its assets were €3.6 billion, and Goldman Sachs said it had regulatory capital of €1.834 billion; again, further evidence. Now, in view of these ... all these players were in daily contact...

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Joe Higgins: No, no, no-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Joe Higgins: That would be ... that's all the regulatory capital it had. But if-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Joe Higgins: No, but I was taking from two separate things. The-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Joe Higgins: Finally, Mr. Doyle, then-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Joe Higgins: Finally, on the night of the guarantee, Mr. Cardiff says that the Taoiseach was from the very beginning advocating a broad guarantee, and stuck with that, which included both Anglo and Nationwide. Is it surprising to you, in view of these serious concerns about some of these institutions, that the Taoiseach of the country would take such a stand at the very beginning of what was a critical...

Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)

Joe Higgins: Would it have been more appropriate to put on the table first the known state of the banks one by one, and the risks, and then come with possible solutions? Would that not have been a more logical approach?

Employment Equality (Amendment) Bill 2015: Second Stage [Private Members] (16 Jun 2015)

Joe Higgins: It still leaves the problem of the Catholic schools. That is the issue, which I will return to tomorrow evening.

Ceisteanna - Questions (Resumed): Cabinet Committees (16 Jun 2015)

Joe Higgins: 7. To ask the Taoiseach when the Cabinet committee on justice reform last met. [5467/15]

Ceisteanna - Questions (Resumed): Cabinet Committee Meetings (16 Jun 2015)

Joe Higgins: 2. To ask the Taoiseach when the Cabinet sub-committee on Construction 2020, housing, planning and mortgage arrears last met. [5466/15]

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