Results 10,381-10,400 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Governor Honohan said, when he was before us, "We never committed to not burning the bondholders; we committed to not including the burning of bondholders in the programme, but we never signed any document that said we will never burn bondholders." So how is it understood, on what authority and on what basis was the bailout conditional on the burning of bondholders, senior, unguaranteed and...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Why would Governor Honohan say that though? That when you're-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: It appeared he seemed to be giving the view of what the State was thinking of at the time. "We never committed to not burning the bondholders, we committed to not including the burning of bondholders in the programme, but we never signed any document that said we will never burn bondholders." He's not talking in the first person, you know.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Okay. Then-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Thank you, Chair. We come to the final decision of the Cabinet on 27 November. And the question is really, that decision that was taken, given everything that was now known about the conditions of the bailout, what would not be happening regarding burden-sharing and the interest rate that was going to be applied, was the decision to accept the bailout as straightforward as the decision to...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Was it straightforward-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: People have reported that a member of the Cabinet saw it as the terms of humiliation----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Thank you, Chairman. Thank you, Mr. Cowen. Mr. Cowen, just about five minutes ago when speaking to the Chairman, and he was going through some graphs on the economic ... the economy, I suppose. No, no, it's okay. You said there was no budgetary strategy, no matter how prudent, that could have avoided the scale of the adjustment needed. Is that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: But did an imprudent budgetary strategy contribute to the scale of adjustment needed?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: I'm just trying to clarify that then. The budgets that were decided did contribute to the scale of the adjustment needed?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: And the move from pro-cyclical taxation from 12% to 30% from 2000 to 2006, was that prudent?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Just in relation to mistakes that were made in managing the crisis, and you said in paragraph 160 of your opening statement: "The slow process in transferring loans to NAMA in tranches played a role in undermining confidence in the banking system and the sovereign in general." So can we imply from that that there was a design fault within NAMA that led to the bailout?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Sorry, that's what I was going to ask you about ... you said knowledge denial, but co-operation. Was co-operation satisfactory for that process? Did that slow down the process?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: And, Kevin Cardiff, when he was here, suggested that making the 30% target, the haircut target, public, might have been a mistake. Would you agree it might have been a mistake, or was that a mistake?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Okay. And just, final question, and I'm sorry to come back to it, in terms of the burden-sharing in November 2010, but it's just to try and get some clarity on your view. Burden-sharing didn't happen. Was this because of the need to maintain market confidence in the banks in Ireland and Europe, or because the US and the G7 wanted to protect their own investments in Irish banks, in your view?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: It would protect other European countries?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Eoghan Murphy: Okay, thank you.
- Written Answers — Department of Finance: Student Support Schemes (7 Jul 2015)
Eoghan Murphy: 132. To ask the Minister for Finance if he will consider allowing tax relief on graduate medical students' loans. [27210/15]
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Eoghan Murphy: It's Senator O'Keeffe.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Eoghan Murphy: Thank you, Chairman. Thank you, Mr. Cowen. You're very welcome. I just want to continue on that line of questioning, if I may. When you made that decision at the end of 2006, beginning of 2007, did you know you were making it against the advice of the Financial Regulator?