Results 15,281-15,300 of 26,043 for speaker:Kieran O'Donnell
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: Well, were you surprised that, six months after the guarantee when you joined with Minister Lenihan, that the Department of Finance or the Minister hadn't a full handle on the state of the balance sheets of the banks?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: Can I just ... one quick question. Do you believe that if Anglo Irish Bank had been nationalised or had been ... ELA funding had been put in place on the night of the guarantee and you had gone to the ECB and gone to the European Commission, that you would have been able to burn bondholders and save the Irish taxpayer money?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: Well, do you believe that Anglo Irish Bank was solvent on the night of the guarantee?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: In your professional judgment,-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: In your professional judgment as an economist, was Anglo Irish Bank solvent on the night of the guarantee?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: Okay. Can I take you to the bailout? You've stated earlier to the Chairman that it's your view that if the current bond buying programme that's in place under Mario Draghi and the ECB was in place, Ireland would not have ended up in a bailout programme. Is that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: And how would we ... if we hadn't gone into the bailout programme, how would we have ended up funding the investments that were required in the banks subsequently?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: And do you believe the markets would have tolerated that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: And who do you believe vetoed at the G7 meeting? Who vetoed the burning of the €4 billion in unsecured bondholders in Anglo?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: And, I suppose, the very final point. Do you think anything different could have been done in terms of dealing with the banking crisis and the guarantee that would have saved the Irish taxpayer the at least €64 billion gross that has gone into the bank and, more particularly, the €30 billion of funds that are gone into Anglo Irish Bank that they will never see a red cent of again?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: Thanks, Chairman. Welcome, Mr. Gray. Mr. Gray, can I go to Vol. 1, page 65 to 66, its core document, it's the letter of 20 October that you wrote to Mr. Kevin Cardiff? You might just summarise what were the main points you wanted to raise. It is about an exit strategy from the bank guarantee, the reasons why you wrote the letter so early in the guarantee period. How was the letter...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: It's in Vol. 1, page 65.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: And in that context, Mr. Gray, would you have advised Mr. Cowen, the then Taoiseach, in your telephone conversation that you believed the guarantee should only be for a year?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: In the limited time I have, can you just summarise the key points you were making and what action was taken on foot of the letter of 20 October?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: Was there action taken on foot of your letter, Mr. Gray?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: I have very limited time now, Mr. Gray.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: And did you get a response to the letter, Mr. Gray?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: Can I move on? You made reference in your document - annex 7 in Mr. Gray's statement - it relates to the meeting in Druids Glen, and you gave, effectively, your agenda. And I just had a quick look at the agenda, Mr. Gray. It's about 64 items in the agenda.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: I think about eight of them relates in some way ... could be related to creditor banking. The first two ... the notes in blue underneath the main headings, when did you write those notes?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Kieran O'Donnell: When did you write the notes?