Results 2,701-2,720 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)
Marc MacSharry: In terms of his testimony today, Dr. Bacon has clearly indicated his belief in the correct nature of the establishment of NAMA. He suggested that short-term debt recovery versus the realisation of the long-term value to the taxpayer may be debated. Is he of the view that if more capital had been available to NAMA in respect of work-outs rather than disposals, it could have given rise to...
- Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)
Marc MacSharry: In A Contribution to the Debate on National Economic Recovery, Dr. Bacon refers to the potential for NAMA to be part privatised to an international private equity investor.
- Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)
Marc MacSharry: Does he remain of the view that this could be done?
- Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)
Marc MacSharry: Again, in A Contribution to the Debate on National Economic Recovery, Dr. Bacon refers to how cautious the EU response was to the crisis here. Did the EU response benefit or adversely affect the Irish taxpayer?
- Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)
Marc MacSharry: With the benefit of hindsight and his expertise as an economist, will Dr. Bacon give us a sense of his view on the Irish response to the crisis?
- Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)
Marc MacSharry: That of the Irish Government. I refer to the response here in Ireland to the crisis. With the benefit of hindsight and his expertise as an economist, will Dr. Bacon provide his assessment in that regard?
- Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)
Marc MacSharry: Not in this room.
- Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)
Marc MacSharry: I thank Dr. Bacon.
- Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)
Marc MacSharry: I thank Professor Ahearne for coming here. At the time economists like him would consider the output gap and whether there was one. Since then it seems they consider structural deficits. Can Professor Ahearne outline how the system has changed and how that may now show things up that they did not see at the time?
- Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)
Marc MacSharry: Dr. Peter Bacon said earlier this morning that the stock market could see clearly that there was a serious problem here. What is Professor Ahearne's sense of why the IMF, the ESRI, the Commission, the regulator, the Central Bank and everybody else got it so wrong? Was it because of the output gap?
- Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)
Marc MacSharry: Notwithstanding that, all these organisations have this expertise, they are all examining everything and with the exception of Professor Ahearne at a later stage, Morgan Kelly and David McWilliams, no one spotted what appears with the benefit of hindsight to have been the elephant in the room.
- Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)
Marc MacSharry: Is that sovereign borrowing?
- Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)
Marc MacSharry: Were the way things operated at the time adequate or inadequate in terms of economic analysis by these organisations?
- Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)
Marc MacSharry: In Professor Ahearne's time with the Federal Reserve, and his examination of the 44 booms and busts that he looked into, can he outline the impact of actions by governments, political parties and oppositions in each of them? I do not want him to go through 44 of them, but can he give us a sense of the impact of their actions and the role they played?
- Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)
Marc MacSharry: Are there patterns of activity?
- Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)
Marc MacSharry: What causes the economic activity? Was there a discourse in each of these countries that led to an economic policy that led to a particular outcome?
- Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)
Marc MacSharry: Were the 44 instances equally missed by the international community?
- Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)
Marc MacSharry: To go back to the earlier question, in the context of the Irish situation, did the political discourse in the run-in to the crash here, in terms of government, political parties or media, contribute to our problems? Did it fuel the problem or not?
- Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)
Marc MacSharry: It is not political. It is a case of the economic fact of the day and what caused the economic actions to be taken.
- Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)
Marc MacSharry: The discourse was consistent with the policy of a pro-cyclical nature, rather than counter-cyclical.