Results 1,401-1,420 of 4,168 for speaker:Susan O'Keeffe
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Susan O'Keeffe: On page 36 of your own long statement, you said about Anglo, "...next day they could expect to be another two billion or so in the red, perhaps 8 or 10 billion within a short few days, and trapped in a downward cycle with no exit." Where were Anglo on the night? Why were they not in that room saying, "This is how bad things are"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Susan O'Keeffe: Because?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Susan O'Keeffe: Okay. When Mr. McDonagh was here, on page 56 of his evidence, he says, "[I am sure]", sorry, that we ..."we were very sceptical about the operating models of those two institutions." He was talking there about Anglo and Nationwide. And, on page 51, he says, "I don't think the were solvent" - meaning all the banks, "I don't think they were solvent [on the night of the guarantee]." Given...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Susan O'Keeffe: Or not?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Susan O'Keeffe: And, finally, did you ever advocate yourself, with Minister Lenihan, before that night that there should have been an intervention with Anglo or with INBS or ILP and who directed the subordinated debts and existing long-term bonds be included in the guarantee? Thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Susan O'Keeffe: You know, earlier, before that sort of cliff that arrived the 29th, 30th. Had you said much earlier, in July or August or September, "Things are really bad, let's get in now"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Susan O'Keeffe: No. Okay. And then, finally, who directed that the subordinated bonds and the existing long-term bonds be included in the guarantee?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Susan O'Keeffe: I'm just checking.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Susan O'Keeffe: Thank you, Chair. Mr. Moran, in your statement, you say: the sad reality was that the acute lack of fiscal capacity at Government level removed flexibility in easing the impact of the problems. The fiscal rectitude we are experiencing since was a necessary result of the terrible and perilous structure of Ireland's fiscal profit and loss. Now, I know you have discussed this to some...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Susan O'Keeffe: What kind of things might we avoid in that case?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Susan O'Keeffe: When you, you had joined the Central Bank and you'd been there I think about three months when the troika, if you like, came, came to town and people talked at the time of the shame and the embarrassment of the troika coming to town. When you were at, when you arrived at the Central Bank, was it clear at that point that that was the inevitable outcome, was there work in progress for the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Susan O'Keeffe: Yes, they have.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Susan O'Keeffe: So it wasn't obvious-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Susan O'Keeffe: So you didn't, you, like everybody else, didn't know exactly what was coming?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Susan O'Keeffe: Okay. Were you part of the, the decision that ... the head of Bank of Ireland would, would receive that payment of €843,000 and the Governor of the Bank of Ireland would be paid €500,000? Were you part, did you have any act in part of that in your job as Secretary General?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Susan O'Keeffe: Okay. So .. but you would have presented it as an appropriate thing to do?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Susan O'Keeffe: Well, I'm asking, is that what you did? Did you recommend it, I'm sorry, did you recommend it in your papers? Or did you recommend against it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Susan O'Keeffe: No, no, I'm talking about in your time.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Susan O'Keeffe: Okay. Yes. I have one more question.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)
Susan O'Keeffe: I have ... because that took quite a while. In terms of ... at the time when you called for banks to offer some kind of assistance towards mortgage arrears, you talked about, you know, the problems that people were facing in November 2012 ... you were Secretary General of the Department by then. Did you feel you got the response you wanted, were you happy, or why did you intervene and say...