Results 18,641-18,660 of 26,053 for speaker:Kieran O'Donnell

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Kieran O'Donnell: Yes.

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Kieran O'Donnell: Does Mr. Nyberg believe there was ample time to put a special resolution mechanism in place from, say----

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Kieran O'Donnell: Effectively it is place now. It is a mechanism in place so that the taxpayer is the last person----

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Kieran O'Donnell: Correct.

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Kieran O'Donnell: The question really is does Mr. Nyberg believe that there was adequate time to put a mechanism in place?

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Kieran O'Donnell: With due respect to Mr. Nyberg, in Ireland we would call him a wily fox. He is well used to dealing with politicians. It is a very straightforward question because certainly looking at his report and meandering though it, I believe he feels it should have been in place a good year to 18 months prior. That is an opinion.

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Kieran O'Donnell: It is a direct question, really, Chairman.

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Kieran O'Donnell: A "Yes" or a "No", as a previous colleague said.

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Kieran O'Donnell: Can I just ask two very quick questions? They are both interlinked.

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Kieran O'Donnell: Could I just put it - on page 7, Mr. Nyberg says that the Government actively supported the market over an extended period against the apparently fairly weak but clear opposition of the Department of Finance, and that was over a six-year period. What did he mean by that statement? Well, tomorrow the committee will talk to Mr. Wright and discuss his report.

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Kieran O'Donnell: It is still two years, at least, before the bank guarantee was put in place.

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Kieran O'Donnell: So Mr. Nyberg is saying as early as 2006 he believed the Irish banks were insolvent.

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Kieran O'Donnell: Did Mr. Nyberg interview anyone on the domestic standing group?

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Kieran O'Donnell: Why not?

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Kieran O'Donnell: With due respect to Mr. Nyberg, the group specifically dealt with looking at a special resolution mechanism-----

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Kieran O'Donnell: -----for the banks as early as June 2008.

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Kieran O'Donnell: If this had been in place at the time of the guarantee, it may have given rise to a situation where €64 billion-----

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Kieran O'Donnell: -----would not have been put on the backs of the Irish taxpayers. We are here because €64 billion of a liability was there. It may end up being less, but certainly there was a liability at a certain point in time of €64 billion on the Irish taxpayer, whom we are here to represent. I will put the question I am really asking. Did Mr. Nyberg look in any great depth at the...

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Kieran O'Donnell: To whom did they report?

Committee of Inquiry into the Banking Crisis: Context Phase (17 Dec 2014)

Kieran O'Donnell: Okay.