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Watch: 'Phoney concepts' and 'haystacks' - 3 clips from today's finance committee

Central Bank Governor Patrick Honohan faced the Oireachtas Finance Committe today, we picked the best three clips from today’s exchanges…

CENTRAL BANK GOVERNOR Patrick Honohan faced the Oireachtas Finance Committee today to give his take on how banks are dealing with the mortgage crisis.

It follows on from the appearance of the top executives from Ireland’s four main banks earlier this month.

Back then TheJournal.ie gave you 8 moments from that week’s ‘grilling’ of the bankers. Today we’ve picked three exchanges between Honohan and politicians we think are worth a watch.

1. “Strategic default is a phoney concept”

First up, Honohan doesn’t buy the words of bank executives that mortgage holders choosing not to keep up payments are in ‘strategic default’.

2. “Do you want us to send them a copy of the Sunday Independent?”

Fine Gael TD Kieran O’Donnell and Governor Patrick Honohan seem to be on vastly different wavelengths. O’Donnell keeps wondering why the Central Bank didn’t pass the Anglo Tapes onto the Gardaí, Honohan seems to forget the simple answer is that the Gardaí already had them.

3. “It’s a giant haystack problem”

Sinn Féin TD Pearse Doherty found it ‘incredible’ that the Central Bank hadn’t listened to rest of Anglo Tapes. Honohan got a little tongue tied explaining why.

(All videos: TheJournalVideo )

Like politics? Then why not ‘Like’ TheJournal.ie Politics on Facebook to keep up to date with all that’s happening in and outside of Leinster House.

Read: Anglo Tapes: “No smoking gun” says Central Bank boss >

Also: Ulster Bank CEO: ‘It costs money to live in a house’… TDs: ‘We know’…

About the author:

Rónán Duffy

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