Results 16,281-16,300 of 26,050 for speaker:Kieran O'Donnell
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Kieran O'Donnell: When did you, as Taoiseach of Ireland, yourself, in a quieter moment, say "We are going to be going into a bailout programme?"
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Kieran O'Donnell: When was that, like, what date, would you have-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Kieran O'Donnell: So, you would have felt, mid to late November, we were going into a bailout programme.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Kieran O'Donnell: Of November?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Kieran O'Donnell: So, you're saying ... are you saying mid to late November or October?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Kieran O'Donnell: Okay. And when would you feel that you lost control of the process in terms of determining the timing of that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Kieran O'Donnell: It was reported that ... that Commissioner Barroso made contact with you, we'll say, towards early ... we'll say around 10 or 11 November. Did that discussion take place and what did ye discuss?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Kieran O'Donnell: Did Commissioner Barroso ... was he pushing you to go into a bailout programme for Ireland?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Kieran O'Donnell: And did you as Taoiseach, in terms of reports, look for the ECB to continue to buy Irish Government bonds at that stage?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Kieran O'Donnell: Did they apply pressure in terms of saying they wouldn't continue to buy Irish Government bonds?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Kieran O'Donnell: Can I go back ... Did NAMA contribute to Ireland ending up in a bailout programme?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Kieran O'Donnell: The perspective I am coming from is, in the time I have is that ... NAMA originally was ... the plan was 30% haircut discount. It ended up, basically, being nearly 60%, nearly €19 billion extra of losses. You had to bring out a new, we'll say, bank plan on 30 September, just literally a month and a half before you applied for the bailout programme. In essence, is it fair comment to...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Kieran O'Donnell: ----the Irish State to the banking sector?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Kieran O'Donnell: But that's a long-term project.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Kieran O'Donnell: I'm talking about a short-term project in terms of the level of exposure the Europeans saw in terms of Ireland Inc as a small country to the banking sector.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Kieran O'Donnell: Two final questions. Firstly, was that not an endemic weakness in terms of the controls and the management of the economy, when you were both Minister for Finance and Taoiseach, that we allowed the banking sector to get exponentially the size it got relative to the Irish economy? And, secondly, Professor Honohan when he was in here, stated that he went on the "Morning Ireland" programme on...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Kieran O'Donnell: But wasn't there a risk of a run on the Irish banks at that time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Kieran O'Donnell: Final question. What controls were in place, in your period as Minister for Finance and Taoiseach, to look at the level of the balance sheets of the Irish banks and the exposure of the balance sheets of the Irish banks, relative to the Irish economy?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Kieran O'Donnell: Thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Kieran O'Donnell: Welcome, Mr. Cowen.