Results 10,581-10,600 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: Did the Minister and the Department see the difficulties that you foresaw or were they blind to them? Did they not want to-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: This is in April 2010?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: In March, okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: So they're saying ... they're looking at the banks and saying this will sink the State. Are they talking after that recapitalisation is made there ... there's still a worry there about the banking system?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: Then, if we look at May 2010, the IMF head here in Ireland speaks to you about a precautionary line of credit for the country. You raised this with, you say, Merrion Street in ... in your writing, but I wasn't clear. Merrion Street is the Department of Finance?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: You said "Although storm clouds were still only on the horizon I could see some advantages but was quickly put in my place by Merrion Street officials".
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: And that was the Department of Finance, when you say Merrion Street?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: You advocated for it and it never progressed from there?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: Okay, sorry, you said to Mody, "try it"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: It didn't go anywhere?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: Okay. Then, looking again at the bank funding cliff from September, which you mentioned in your opening remarks. You say that you got on to the ECB at the end of July 2010 to make them fully aware of how the dependency on ELA was shaping up, but it's not until September that Mr. Trichet contacts Minister Lenihan demanding to know what Ireland was doing about the position and looking for a...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: So, the dead silence then, are you saying you thought that meant good, they know what's happening? But you don't think they did understand the situation?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: Okay, and did Mr. Trichet have the power in September, or the authority, to call the Minister for Finance here and say "We're sending a team from the Commission, you have to do something about this"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: This is my final question in this area. You are satisfied that the Department was fully aware?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: Okay, thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: Yes. The domestic standing group fell into abeyance just prior to the crisis really reaching its peak in September in terms of the guarantee, the DSG.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: 2008.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: The financial sector stability group, I'm just curious about, did that replace the DSG, is that something different?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: And the membership is? Who are the principals ... it's the Central Bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Eoghan Murphy: And is it a decision-making forum or is it just a discussion and analysis forum?