Results 10,621-10,640 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: So to the extent that you can judge, he was supportive but he came back with the message that, "Look, this isn't working."
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: And then in his new role and your new role, he was supportive of what you sought to introduce.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: And very finally, do you recall that when the remuneration and budgeting committee were considering the approaches which you felt were justified, having been in the position yourself, for more staff for bank supervision, do you recall was Mr. Neary involved in that decision?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Okay. Thanks, Chairman.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: Thanks very much, and thanks, Mr. Hurley, for being here. After 2004, the IMF, OECD and ECOFIN all clearly recommended a tighter fiscal stance and the building up of a cushion for the time when income from property-related transactions might fall. Can you discuss why the Central Bank's recommendations to the Minister did not more forcibly raise this issue?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: At the time, was there any specific advice that you gave in your role to the Government that they didn't follow, that they refused to take, that they ... that you would recall now as being of detriment?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: The Government did what they were told then, did they?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: Can you recall any example where they didn't follow your advice?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: I would just ... It's not to stop you, but my time is limited and we're going off on a little bit of a tangent of kind of general things. Were there any specific instances where the Government did not follow your advice? And can you be specific if there was?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: Okay, so again you're not being specific, if you forgive my ignorance, you're saying broadly fiscal policy-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: -----was not what you wanted it to be. So what specifically did you want that they weren't doing or that you had suggested should be done and they didn't?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: And how could that have been achieved and what did you suggest specifically that wasn't followed?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: No, I understand that, but what I'm trying to get to is did you as ... given your experience as Secretary General of three different Departments and now the head of the Central Bank, ever give any tangibles: "Minister, what we think in the Central Bank is you need to put up stamp duty, you need to cut the tax things, you need to do this, that or the other."? Are there any specifics that you...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: Right, I appreciate that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: No, I know it doesn't set fiscal policy but you advise, so do you just advise, for want of a better expression, in a very woolly, general way fiscal policy, "You need to cool the market", or did you have any role to put forward tangibles and say, "Look, put up stamp duty, take down this, put in the other"? Were there no specifics?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: Okay, I have to move on because it's taking too much time. Your role as a member of the governing council of the ECB, have you a fiduciary duty in that role to the ECB?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (21 May 2015)
Marc MacSharry: No, is the responsibility to the ECB?