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

Ciarán Lynch: The question, Deputy.

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

Ciarán Lynch: That's a certain opinion, I suppose.

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

Ciarán Lynch: To clarify where you're saying where the belief was owned, that people thought that the institutions were solvent, was that in the Central Bank, on the boards of the banks, where? In terms of the location of that opinion.

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

Ciarán Lynch: Okay, final question, Deputy.

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

Ciarán Lynch: Thank you very much, Tánaiste. I'm moving to the wrap-up please. If I can invite Deputy Michael McGrath. Deputy, three minutes please.

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

Ciarán Lynch: Okay, Deputy McGrath, final question.

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

Ciarán Lynch: Tánaiste.

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: Senator D'Arcy.

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

Ciarán Lynch: Can you read them all there for us, please, Tánaiste?

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

Ciarán Lynch: We can discuss other actions afterwards but that's a very, very specific question.

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

Ciarán Lynch: Just reframe the question again, right.

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

Ciarán Lynch: Can I just come in on that question there? The ... the Central Bank had powers in the overall macro stability of the country to make particular actions available through their own legislative framework. The Senator's question is that concerns were known to you, Tánaiste, in sharing those concerns with the Central Bank - and further to the sharing those concerns - did you discuss with...

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

Ciarán Lynch: Okay. Are you concluding, Senator?

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

Ciarán Lynch: Thank you very much. Okay. With that said, I'm going to bring matters to a conclusion now. It's 4.30 p.m. I'm proposing to resume in one hour because members will need a more substantial break at this time. In doing so, I would like to excuse both Deputy Rabbitte and Tánaiste, Joan Burton. In doing so and excusing you, I would like to thank you for your participation with the...

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

Ciarán Lynch: Before commencing public session, I would like to ask those in the public Gallery and other members to make sure that their mobile devices are switched off. So the Committee of the Inquiry into the Banking Crisis is now resuming in public session. At our next session we will hear from Joe O'Reilly, a founder of Castlethorn Construction and Chartered Land Group. This is one of several...

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

Ciarán Lynch: Okay, Mr. O'Reilly, thank you very much. And in ... if I can now invite you to make your opening remarks to the committee please.

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

Ciarán Lynch: Thank you very much, Mr. O'Reilly, for your opening statement. If I can now proceed on to invite Senator Sean Barrett to open questions. Senator Barrett.

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

Ciarán Lynch: Just one second, Senator, I think there is phone interference, I'm being informed of it, so if I could ask members there in proximity to speakers and so forth to turn off their phones please. Senator.

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

Ciarán Lynch: Deputy John Paul Phelan.

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