Results 3,601-3,620 of 12,320 for speaker:Paul Murphy

Gnó Comhaltaí Príobháideacha - Private Members' Business - Petroleum and Other Minerals Development (Amendment) (Climate Emergency Measures) Bill 2018: Motion (26 Mar 2019)

Paul Murphy: I wanted to say I am very glad I spoke while the Leas-Cheann Comhairle was in the Chair. I wanted to draw the attention of the Ceann Comhairle to the punchline of the motion-----

Gnó Comhaltaí Príobháideacha - Private Members' Business - Petroleum and Other Minerals Development (Amendment) (Climate Emergency Measures) Bill 2018: Motion (26 Mar 2019)

Paul Murphy: The motion states: "...and therefore agrees that the requirement for the Select Committee on Communications, Climate Action and Environment ... to report, prior to Committee Stage, on its detailed scrutiny ... is hereby discharged." That is similar. When we passed the Second Stage motion, we agreed it had been read a Second Time. That is always the way. There is a reference to substantial...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Paul Murphy: I will try to take it easy.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Paul Murphy: I thank the representatives for their presentations. I was in the Dáil when they were speaking earlier but I have read them. I will begin with a general question on the world economy. Do the representatives believe the prospects of the world economy entering into recession again are rising? Are they concerned by indicators such as the inverted bond yield in the US on Friday, the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Paul Murphy: I think Professor Lane reads more of it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Paul Murphy: How would Professor Lane respond to the argument that given the nature of the growth we have had, and given that an important factor in fuelling it has been very cheap money, if we were to enter a recession the capacity for central banks, in particular, to intervene in response is very sharply limited, in quite a different way to 2007 and 2008? Martin Wolf wrote in The Financial Timesthat a...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Paul Murphy: I will move on to the impact of Brexit in the medium to long term way as opposed to the immediate impact, with regard to the nature of the economy and the danger the Irish economy could become even more imbalanced or reliant on finance in the aftermath of Brexit. Does Professor Lane agree that this is a danger? It was reported in the Financial Timesthat the Central Bank received...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Paul Murphy: Professor Lane said lessons had been learned but in the history of capitalism, lessons have been learned which then seem to be unlearned, with the same mistakes being repeated. In the US, some of the stricter regulation that was introduced in the aftermath of the crisis is in the process of being reversed. We have probably not seen the same effect in the European Union but pressure could...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Paul Murphy: I have one final question, which is in some ways related, on the dangers of leveraged finance. Several reports have been produced recently. The IMF warned that speculative excesses in some financial markets may be approaching a threatening level. For evidence, we may look no further than the $1.3 trillion global market for so-called leveraged loans. The Bank of England has suggested that...

Ceisteanna ó Cheannairí - Leaders' Questions (27 Mar 2019)

Paul Murphy: He did not even answer the original question.

Ceisteanna ó Cheannairí - Leaders' Questions (27 Mar 2019)

Paul Murphy: Free public transport.

Ceisteanna ó Cheannairí - Leaders' Questions (27 Mar 2019)

Paul Murphy: Free public transport.

Post-European Council Meetings: Statements (27 Mar 2019)

Paul Murphy: Before I make some remarks on Brexit, I want to start with Fine Gael and the Taoiseach's relationship with Viktor Orbán and Fidesz, the far right populist party in Hungary. The European People's Party, EPP, has taken some action. It is far too late and far too little in being only a suspension rather than an expulsion. The rhetoric of Orbán and Fidesz in Hungary is one of...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: National Surplus (Reserve Fund for Exceptional Contingencies) Bill 2018: Committee Stage (28 Mar 2019)

Paul Murphy: Deputy O'Brien was dogged in pursuing the truth that this money can be used for a bank bailout. Eventually, the Deputy has got an admission, albeit more by nodding than by words. The Minister of State made the point that it could only be done with the agreement of the Oireachtas, but that is not quite true. Were an emergency to happen while the Oireachtas was not sitting and it involved,...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: National Surplus (Reserve Fund for Exceptional Contingencies) Bill 2018: Committee Stage (28 Mar 2019)

Paul Murphy: The Minister of State just said that it could only happen with the agreement of the Oireachtas, but that is not the case.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: National Surplus (Reserve Fund for Exceptional Contingencies) Bill 2018: Committee Stage (28 Mar 2019)

Paul Murphy: The Minister of State said that by way of justifying it. My next point, which will mostly repeat Deputy O'Brien's, is that the fiscal rules mean that it cannot be used for any of the real rainy days that we have. For example, it cannot be invested in public services, be used to build houses, etc. It requires an external shock, which will in reality look like another wave of global...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: National Surplus (Reserve Fund for Exceptional Contingencies) Bill 2018: Committee Stage (28 Mar 2019)

Paul Murphy: But the Government would have to get the EU's permission.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: National Surplus (Reserve Fund for Exceptional Contingencies) Bill 2018: Committee Stage (28 Mar 2019)

Paul Murphy: We would be in breach of the excessive deficit procedure if we-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: National Surplus (Reserve Fund for Exceptional Contingencies) Bill 2018: Committee Stage (28 Mar 2019)

Paul Murphy: That is the most unlike-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: National Surplus (Reserve Fund for Exceptional Contingencies) Bill 2018: Committee Stage (28 Mar 2019)

Paul Murphy: If we increased expenditure, because of a weather event whatever, above the underlying rate of structural increase in the economy, we will be in breach of the fiscal rules.