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Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: Okay. Thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: Okay, thank you. Deputy O'Donnell to wrap up, please.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: Quickly now.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: You are moving in now to Minister Noonan's space when he's in before us in September, okay? And really, I want to put a stop to that there, okay. Thank you very much. I'm going to bring matters to a conclusion. I, in doing so, I would like to thank An Taoiseach, Enda Kenny, and Minister Richard Bruton, for their participation today with the inquiry and with their engagement with us. I...

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: I now call the committee back into public session; is that agreed? Agreed. We now proceed with our second hearing of today, that's the hearing with An Tánaiste, Joan Burton TD, and Mr. Pat Rabbitte TD. The Committee of Inquiry into the Banking Crisis is now resuming in public session, and can I ask members and those in the public Gallery to ensure that their mobile devices are...

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: So welcome again, Deputy Rabbitte and Tánaiste Burton. If I can invite you to make your opening remarks, and if I can begin with Deputy Rabbitte, please? Deputy Rabbitte.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: Thank you, Deputy Rabbitte. Tánaiste.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: Thank you very much Tánaiste. I now commence questioning and if I can invite in Deputy Michael McGrath. Deputy McGrath.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: I'll intervene if-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: I will and-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: I certainly will, yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: Just stop the clock a second. It's just, kind of, coming back to where we were revisiting this morning. There's an issue here with specific numbers and to stand up the numbers over the policy platform. The Deputy's question is that there is a cyclical and pro-cyclical presentation in the figures here and how does ... over the lifetime of Government, that would be compounded and compounded....

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: Tánaiste I-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: -----I need you to focus upon-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: -----your own behaviour, at that time-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: -----to answer the question with regard to what was the thinking-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: -----and what was the alternative to doing-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: -----what actually happened.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Ciarán Lynch: I'm going to just ... the proposition here is very, very clear. Is that the ... when the guarantee was in real time ... over the couple of days that actually happened, the ... a position was taken on that by Government and by the Labour Party and other parties. The proposition is ... has two aspects to it, certainly, why were there concerns with not supporting it at that particular time and...

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