Results 4,761-4,780 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Thanks very much and thanks very much, Mr. Gray, for being here. Can I ask with regard to your letter of 25 September 2008 to Mr. Cardiff about the strategic options, what information was available to you relating to the liquidity or solvency of the Irish financial institutions prior to providing the advice to the Taoiseach?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: And do you believe that the level of management information available to the Central Bank and regulator was sufficiently robust to appropriately inform some of the most significant decisions ever made in the history of the State?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: What could have been done better at that time? I mean, you mentioned that liquidity and solvency was purely ... the difference was purely a matter of valuation on a given time. So, what is your view on what ought to have been done better in assessing the solvency at that time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: But given the time available, presumably, was this possible do you feel?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Yes, okay, just back to Druids Glen briefly. When you were going to the house for the private meeting, were you aware that there was onwards then to Druids Glen for dinner? Was that always part of the plan or?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Okay, so golf intervened and you continued the discussion afterwards and you went elsewhere. You didn't play golf so you linked back up with them later on. Isn't that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: So, you came back after the golf for that and for all the world, the meeting stopped at the house and it resumed at the public forum in the restaurant in Druids Glen.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: And the golfers could have talked about football, banking or God knows what for the 18 holes or nine holes or six holes or whatever. Would that be fair?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Absolutely. We don't know in other words. So they didn't say to you, "Well, look we're going to consider this over our golf and we'll talk to you later on." There was none of that.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Okay. Do you feel that, considering the credentials of everybody involved, notwithstanding your own view on it and what you've said, that somebody considering the attendees at this event might find it somewhat hard to believe that banking wasn't discussed? Would you think that's outlandish or do you think it's reasonable?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Absolutely, and you've been clear on that and we've ... you've given your word on that and so on. But, again, in your experience of life, not least economics, could you appreciate that that's a point of view that somebody could quite reasonably have, looking in?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Indeed, and then there's the concept of the balance of probability. You'll be familiar with that, I'm sure.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Yes. So just two very final questions, Chairman. And it's back to your time on the Central Bank. Would you've be familiar with Tom O'Connell as chief economist in the Central Bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: He would have given evidence here that, despite his proximity to the bosses and the board and the 7th floor - indeed, he met personnel, he told us, regularly at the water fountain there - he had extreme difficulty in getting his message across to the board on the basis of what he called the political and property vested interests within that board. Is that your experience of having talked...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Or property?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Okay, and he did say that he regularly ... this is the second part of that question and I have one very final one, Chairman, if its okay. The ... he said he regularly presented to the board. Obviously, he was brought in to give presentations and so on.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Would there be anything to prohibit, for example if he'd have said "Look, while I'm here, I have concerns about such a thing." Would that opportunity have ever been afforded to somebody like him?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Okay. That's good, that answers that. You mentioned how, in part of your dual representation down on the board of the regulator, that you requested a specific private meeting with each of the individuals from each of the sections.