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Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: I ... the question is ... and I need to move this on because we have more witnesses coming today-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: The question is that the legislation was structured in a particular way. This has been discussed with other witnesses that have been here before us. The legislation had provision for re-examination on a six-month basis. The question is not with regard to bond values. Was that provision - if I understand the question correctly - was that provision ever discussed or looked at in terms of...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Because you spoke about all these other options that were out there, so in the context that there might have been other options, was that provision ever looked at?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Senator-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: I need to move on, Deputy. Senator Michael D'Arcy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: The witness can ... you can get to choose the question, but the witness gets to choose the answer.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: No.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Move on, Senator, please.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: The witness was asked.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Senator, I need to be moving you to wrapping up as well, okay? Thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Just to bed this down - because I need to deal with one other issue and just to be very, very clear as well just in case people might have a misinterpretation - Ministers and politicians are responsible for making decisions; officials advise and advisers advise as well. So, I ... the issue here is you're not responsible for a decision that is made by a politician. Let's be very, very clear...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Okay. All right, okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: I need you to wrap up, Senator, quickly please.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: You're not overly familiar with that process, no?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Okay. Thank you. I'm going to wrap up. Deputy McGrath, please.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Okay, thank you. Deputy Murphy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Thank you very much, Mr. Ahearne. I'm going to bring matters to a conclusion. Mr. Ahearne, this is your second time before the committee and I'd like just to acknowledge that you were here in the Context Phase as well. Given that and standard practice for all the witnesses when we come to a conclusion, is there anything else you'd like to say by closing comments or final remarks or any...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: Okay. I thank you. With that said, once again, to thank you, Mr. Ahearne, for his participation today and in the earlier process in the inquiry as well. With that said, I now wish to formally excuse the witness and propose that we return at 3.10 p.m. is that agreed? Agreed. So the witness is now excused and we're formally suspended until then, thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Ciarán Lynch: I now propose that we return back into public session for our third session of today. Is that agreed? Agreed. Okay. As we can now commence our public hearings with Mr. Alan Gray, former board member of Central Bank of Ireland, the Committee of Inquiry into the Banking Crisis is now resuming in public session. Can I ask members and those in the public Gallery to ensure that their mobile...

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