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Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: Okay. Can I ask, Mr. Dukes, the distrust between the Department of Finance and Anglo, was it personality driven or was it policy driven?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: And you might just clarify the relationship framework, your letter here to Mr. Moran was dated 6 October 2011.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: When was the revised relationship framework, when was it actually put in place?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: And why did it take the bones of six months to put a revised one in place?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: But did you not go into a room and say, you know, "let's do business"?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: I suppose the question I'm asking is, did personality clashes become more of a feature of the relationship than policy clashes?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: We had Mary Harney and John Gormley in before us yesterday and they both stated that the late Minister, Brian Lenihan, had indicated to them prior to the nationalisation of Anglo that Anglo was insolvent. So-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: Thank you, Chairman. I haven't had an opportunity to look on the-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: And, really, I suppose, what would be your view on that particular point expressed by both?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: In substance, do you think, it was-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Kieran O'Donnell: Well it is ... yes, you said "technically". In substance, was it insolvent?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: Chairman.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: Could I invoke just one clarification?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: You made reference that-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: Yes. It was on IAS 39, Chairman-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: -----and Mr. Merriman said it was a red herring, and the question I want to ask-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: -----was EBS ever asked by the Financial Regulator or the Central Bank to increase the provisions on loan losses?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: Were you surprised with that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: Did you-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)

Kieran O'Donnell: But did they have the power to ask you?

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