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Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Marc MacSharry: Was that-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Marc MacSharry: But would you take it as factual? Would you say, "Well, their data is going to be correct because it's-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Marc MacSharry: Would you?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Marc MacSharry: Okay, that's good. Can I also ask that, as economists, you know, with large institutions at the time, and looking back, and on the basis that you didn't, as you've told us, have any direct involvement in the guarantee, considering the fiscal cost to the Irish people, and it's been referred to ... with the benefit of hindsight, do you feel that by taking a different approach in terms of...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Marc MacSharry: Right.

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Marc MacSharry: Thank you very much.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Marc MacSharry: Thanks very much. A few "yes", "no" answers here, gentlemen. I'll let you know which are appropriate. Why, in your view, was the danger of a crash in the commercial property market not perceived given that the housing market was in decline? And that's to Mr. Parlon first.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Marc MacSharry: On commercial property-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Marc MacSharry: Okay, Mr. Kelleher, you want to-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Marc MacSharry: Okay and to Mr. Kelleher, "yes", "no" type stuff here now. In terms of your period from 1993, I think, right up to your retirement in 2007, was your relationship with government or the political system any different at the beginning than it was at the end or were there changes substantially, or was it a case that things started as they went on?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Marc MacSharry: So other than social partnership your interaction with Government and political parties was it the same at the beginning as it was at the end?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Marc MacSharry: Okay, you mentioned to Senator O'Keeffe earlier that members were close to Fianna Fáil and Fine Gael-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Marc MacSharry: Did it stop there or were there members who were close to Labour or Sinn Féin or Independents or socialists, or was it specific to Fianna Fáil and the PDs of course or was it specific to Fianna Fáil and Fine Gael?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Marc MacSharry: Well, you can break it down. If it's "yes" to one and "no" to the other, please specify.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Marc MacSharry: You seemed to know that there was Fine Gael and Fianna Fáil members so did you know about the others ... or were there others?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Marc MacSharry: How did you know that they were Fianna Fáil and Fine Gael then if you didn't know about the others? Did they wear it on their sleeves?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Marc MacSharry: Okay. Was it ever publicised in the case of Labour or Sinn Féin or the Socialist Party or Independents?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Marc MacSharry: He's not the only socialist as you know.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Marc MacSharry: But this is important, so I mean was it a case that the Construction Industry Federation had a man in every port for want of a better expression. So that if you were coming on a particular day to lobby in the Oireachtas, was it specific to the Government parties or did you see everybody?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Marc MacSharry: Okay, and in the main, did that tend to be all Opposition parties as well as Government parties or?

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