Results 18,461-18,480 of 26,053 for speaker:Kieran O'Donnell
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: What about the interaction of the ECB with the individual central banks in each country? Was there no interaction in terms of an overview from the ECB?
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: What oversight role, in the European context, would the ECB have had over individual central banks?
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: So any decisions taken by the ECB would be entirely down to its own decision-making process, and it would not in those circumstances be reliant on the decisions or advice its gets from the individual country's central bank?
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: For clarification purposes, is Mr. Nava saying that, effectively, the ECB and the Irish Central Bank operate independently of each other?
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: In the limited time available to me, can I move on to something in which the European Commission is directly involved. I do not know if Mr. Nava had the opportunity to view the contribution of Professor Black, who appeared before the committee this morning. Professor Black spoke about the impact of Basel II and said its outcome was preposterous. He said that the level of capital required...
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: With due respect, the trial and error has resulted in a situation in Ireland-----
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: Mr. Nava speaks about trial and error-----
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: -----but there are consequences on the ground for the Irish public because up to €64 billion of bankers' debt, which is on the public record, has come about, potentially, because of these trials and errors. How does Mr. Nava respond to Professor Black's criticism this morning, which is in the public domain, that he regards Basel II, which falls under Mr. Nava's...
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: I need Mr. Nava to-----
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: I want-----
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: This allows the same level of leverage that applied when Lehman Brothers went bankrupt. How does Mr. Nava respond to that?
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: Mr. Nava's submission states that “the Single Supervision Mechanism was created with a view to breaking the link between banks and sovereigns” so that effectively the taxpayer would not be on the hook. In what circumstances will the conditions be such - in an Irish context - that Europe can provide money to purchase shares in banks that the Irish Government has already...
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: In the limited time, I am aware-----
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: Please, Chairman; I want the questions I asked answered.
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: No; I actually intervened because I want Mr. Nava to speak purely about the Irish context. In what circumstances could retrospective recapitalisation apply under the ESM?
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: Thank you.
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: Mr. Nava referred to the single supervisory authority and the Single Resolution Mechanism Fund as game changers. When will the fund become active? Mr. Nava referred to €55 billion. At what level does it become active? When will it reach the level of €55 billion? What is the timeframe?
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: I would like an answer to those; I may have to ask a supplementary question.
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: I just want full clarification.
- Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)
Kieran O'Donnell: I know, but the point is that the fund has to be at €55 billion before it becomes active.