Results 4,021-4,040 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: So at the management advisory committee, was it never considered that, "Look, do we all agree that this is a soft landing situation?" or-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: Okay, and so ... would it always be the case or was it often the case that when stuff came up from the various units, that the advice was taken as read, as was the case with the soft landing as you've suggested there?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: Okay, but on the soft landing one it was-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: -----at management council, that was accepted?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: And you were on that at the time, the management council, so there was just a kind of a contentedness to accept that as the-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: How would you describe it, if it wasn't contentedness?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: So would that be ... if it was consensus, you were happy with the view, would that be-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: Okay. So that view then ... would that view then, following a management ... would that be shared with the Minister or what way did it work from then?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: Can you ever recall the Minister saying, "Look, are you sure about this?" I mean-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: No. He was equally content.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: Okay. Did you ever feel that the Government deliberately ignored your advice?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: The Economic and Financial Council, under Article 99(4) of the treaty in 2001, recommended that - now I'm quoting from your own speech - that Ireland would "take countervailing budgetary measures [in] 2001 to avoid overheating." And I think you said in your statement that that was dismissed at the time. Was it dismissed by the management council or by the Government or by the Government...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: And could-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: Can you remember the reason for saying that we were overheating? Can you remember why they were, I mean, in a sentence or two, could you outline ... why were they saying that we were overheating?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: Was there any focus on the reducing percentage of exports as a contribution to national income as opposed to-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: -----transaction taxes?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: Would your unit ever have recommended tax cuts?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: So, the-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: And how would it work typically? Would a Minister say to the other Department or say to the secretary of the Department, who, in turn, might say to yourself, or maybe directly to you, "Look, we want to cut taxes this year. What are the options?" Does it happen like that or-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: Okay, just three very last questions. Just quickly, I got your advice in terms of the SSIAs which were covered earlier on. Was that introduced at the time as a countermeasure to inflation ... to rising inflation? Was that the theory anyway, behind it, from a Government perspective or-----