Results 4,801-4,820 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: Thanks very much. Just a quick one, Mr. ... to start there. You said about how you would have preferred a longer consolidation period on the fiscal adjustment. You said that this was being pushed from the Government. Maybe we were too optimistic in that regard. Were the ECB and the EU Commission prescriptive in their ... in their view of the length of time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: By one year, isn't that right?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: Yes, okay. So can you give us an example of ... I know you've said already this is the worst case in history or certainly up there. Can you give us an example of where burden-sharing was implemented and it had a positive outcome?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: Okay. While you weren't ... while you didn't have any involvement in what I'm about to ask now, we are interested in your view. In providing the guarantee to the banks in 2008, did this action by the Irish Government serve to stabilise the eurozone at the time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: Okay. We spoke about ... and you said to ... in answering, I think, to Deputy Doherty that the Irish taxpayer had to shoulder a ... a disproportionate amount of the burden, I think were your exact words. With this in mind, and in your personal capacity and your experience, rather than as a former IMF employee, would you say it is fair and reasonable that the EU apply concessions to...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: And, of course, that option still exists, does it not?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: Thank you very much.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: Thanks very much and thank you, Mr. Buti, for being here again today. Programme monitoring and warning controls are now being undertaken by Government agencies to reduce the risk of returning to a programme. What, in your opinion is the greatest risk that you see to Ireland having to return to a programme of assistance?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: So, what's the risk?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: You said, in the opening statement: I very much concur with the conclusions drawn by most witnesses that appeared before [the] committee. The post-2007 economic and financial crisis in Ireland was domestically generated. Its roots were not only in the banking sector, but also in pre-crisis fiscal policy making. You said, in your opening statement, that you believe that Ireland's crisis...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: You don't agree with the statement.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: Okay. So would you say it's ... that the single currency's design was flawless and did not contribute to the crisis?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: No, no. I didn't do that.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: You said in your opening statement that one of the only points of criticism that you might have is that "the Irish government did not consult with its European partners." You also said that the blanket guarantee, in your view, while on one hand saying the Commission didn't have a view, but then you quickly pointed out that your view was that it probably added to the fiscal cost. Is that a...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: It was infinitely longer than that, I can assure you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: But you didn't have a problem making a hindsight judgment of a real-time action yourselves.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: Okay. No, I-----