Results 4,041-4,060 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: To spend. Okay. And did it work?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: No, no, I didn't ask that. We know how much it cost. I'm just wondering, did it work as a countermeasure to inflation or consumer spending at the time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: There's no study done on it, okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: No problem, I've just two more now. The ... you mentioned, in terms of tax issues and tax relief and something like that, sometimes independent advice was seen as necessary. Which areas of tax policy were looked at as necessary and what independent bodies was it sought from? I've one very last one after this, Chairman.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: Yes, okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: Just very finally and on a different issue, we had Tony O'Connell, the chief economist of the Central Bank in here, who, as part of his evidence, made reference to what he called "the political and property interests on the board". Can I ask, from your perspective in the Department of Finance, did the Department of Finance, you and your colleagues feel that there was any, sort of, a...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: But I mean, you could have a view, I mean, if ... did you have a view at the time, the Central Bank was working well or there seems to be a very-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: -----political property type-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: Okay, thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: Thanks very much and thanks, Mr. McCreevy. Last, but not least, hopefully. Can I ask you first, in your one-to-one meetings with the Governor of the Central Bank, did the Governor ever indicate that there was a difference of views expressed in the financial stability reports compared to members of the board themselves?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: So, it was always-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: -----on message and 100% this is what we believe?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: And in the one-to-one meetings the ... would he have said. It's just that we had-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: -----a senior staff member at the time and later chief economist in the bank who would've said that he had difficulty getting across views that were contrarian and, in particular, the fact that he contended that there were political and property interests on the board that prevented that. Would you have any comment on that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: Indeed. Earlier on in your testimony, you said that you were aware that the single currency had downsides, so, presumably, what you mean by that is the lack of control of monetary policy in terms of interest rates. Is that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: Time is ticking so-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: Okay, that was a two and a half minute answer.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: I have three and a half minutes left and 50 seconds. From 1997 on, exports were decreasing, so as a proportion of national income, it was transaction based taxes that were beginning to drive things. Did this worry you on the basis that we didn't have the same suite of tools post-euro to deal with cooling the economy?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: But, as others have said, it's important to get the benefit of expertise in judgment-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Marc MacSharry: That's good and thank you for that. We were talking about lobbying earlier and Senator O'Keeffe mentioned a list of developers, in particular, who your diary had shown that you had met with. Would it be reasonable to assume that they didn't meet with you to talk about racing, that it was likely to be something-----