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Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Susan O'Keeffe: No, but when did it really die?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Susan O'Keeffe: Right.

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Susan O'Keeffe: At the night ... during the time of the bailout, when Patrick Honohan went on "Morning Ireland" on the morning of 18 November, what was the reaction among officials like yourself to that interview?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Susan O'Keeffe: You were obviously involved, as you said, very close up from the beginning ... from 2008 right through. How early on did you believe Ireland would need a bailout? Because Patrick Honohan suggested he had a conversation - albeit a small conversation - with Minister Lenihan in April of that year, suggesting that there might be. Did you have a view yourself?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Susan O'Keeffe: And finally, if I may, Chair, when you came into the job in early November 2008, how - if you look back - how would you describe what you found ... if it was, sort of, in between chaos and a lack of information at the very one end and extremely organised and loads of information at the other end? Where was it when you arrived? And what did that mean, then, for you?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Susan O'Keeffe: Oh.

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Susan O'Keeffe: Sorry, I thought that Ms Nolan was going to continue speaking there.

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Susan O'Keeffe: Thanks, Chair. Mr. McCreevy, during your tenure as Minister, there were obviously the difficulties that arose around Ansbacher and also the DIRT inquiry and in 2001-2002, the problems with Allfirst, the AIB subsidiary. I'm not asking you to elaborate on any of those matters; what I am asking you to do, is to say ... is to tell us why, in your own statement to us today, you said, "It was...

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Susan O'Keeffe: So it was just ... it was never discussed even though, clearly, there were problems at some banks. You already had that experience-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Susan O'Keeffe: -----from a previous time. You're just saying it wasn't-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Susan O'Keeffe: Okay. That's fine-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Susan O'Keeffe: That's the answer to the question-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Susan O'Keeffe: Okay. On page 8 of your own statement, you say, "In regard to the relationship with the property sector, we would've received representations from bodies such as the CIF, Irish Home Builders Association, IBEC, ISME and various other groupings." You didn't take the opportunity there to tell us that in your own diary in 2003, which was sought under freedom of information, not by us, but by a...

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Susan O'Keeffe: I'm just wondering, Mr. McCreevy, why did you not take that opportunity to engage with us and tell us that you had actually made ... had formal meetings in at least just that one year, 2003?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Susan O'Keeffe: It's from your diary, Mr.-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Susan O'Keeffe: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Susan O'Keeffe: Well, it didn't appear so from the way it's listed. What I'm asking you though, Mr. McCreevy, is, these were people who were fairly important in that sector. You didn't take the opportunity to tell us in your statement, so perhaps you might tell us now, why were you meeting them?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Susan O'Keeffe: And why were you meeting them so often?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Susan O'Keeffe: No, they don't appear to have been as delegates ... sorry-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Susan O'Keeffe: Well there's no ... there's no ... they didn't ... they weren't as part of a delegation Mr.-----

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