Results 10,661-10,680 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: Oh no, I do, but I'm just trying to-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: Apart from the accepted doctrine that seems to have been this ... that was going to be best practice to, to stand behind one's banks, can you isolate for us any body such as the ECB or IMF or ... G7 or any body directing, for want of a better expression, that no bank should fail, that this ought to be the doctrine which, granted, everybody now accepts?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: Mentioning.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: Look, I'm sorry to be repetitive but I'm just trying to, to find out. This seems to be the accepted doctrine. This was the only business in town, this was the only thing to do. Now did everybody wake up one morning and was this a reality? Or did somebody, and what group of people or what organisation, sat down and said, "You know what, point number one is: we can't have another Lehman's"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: Agreed, but by who?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: Okay, so just on that - I mean, discussions all over Europe means my sitting room and yours. Was it specifically within the Governing Council of the ECB?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: Sorry?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: As who?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: What was the general view? Are we talking the people in the street? Are we talking the IMF, the G7, governments, who?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: Okay. Just in terms of a guarantee again, Mr. Goggin, his testimony was mentioned earlier on. He, he mentioned in his testimony, and I'm just going to quote a piece where he was speaking about ... the night of the guarantee and the meetings and I'm just going to quote a passage and I'll question you on it afterwards.In fact, as I recall it, the prospect of a guarantee, which was raised...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: Have you any specific recollection of anybody lobbying for a system-wide guarantee?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: Okay. Were alternative options to the eventual bank guarantee discussed at meetings during this period and who presented these alternatives?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: I will go back to Governor Honohan for a moment, who was mentioned by Deputy Phelan. On page 5 of Vol. 1, he wrote about the Government's best available response given their limited information. He spoke of the:...two failed banks should, in my opinion [I'm quoting], have been intervened by the public authorities, replacing top management, likely through nationalization (this corresponds to...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: No. Would they have agreed ... in effect, and I'm paraphrasing, I think the implications of what Mr. Honohan was saying was that we should have sought to liquidate the two banks and that that would create leverage and time to the extent that Europe may have come in to give support.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: Was it considered on the night?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: I understand. Specifically, did Minister Brian Lenihan put forward this as a suggestion?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: Was, to your recollection, there any suggestion such as either nationalisation or allowing the banks to fail, as I said, overruled by the Taoiseach, if put forward by anybody?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: Were you in the room for a decision as ... with ... with regard to the inclusion of subordinated debt?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: And did you feel that that was decided in your presence?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: So you felt, am I correct in saying, you felt it was important to include it, or not?