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Public Accounts Committee: Business of Committee (1 May 2014)

Shane Ross: Does the Chairman intend to give them a few weeks to digest it?

Public Accounts Committee: Business of Committee (1 May 2014)

Shane Ross: The meeting will probably be held in June then, but it should not take place beyond that date because the report is already late.

Public Accounts Committee: Business of Committee (1 May 2014)

Shane Ross: That is fine, as long as there is no sign of a deliberate delay.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Shane Ross: Mr. Moran hopes it is.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Shane Ross: I welcome the Secretary General for the last time. I was interested in his reasons for leaving. I gather from his statements, quoted today, that he had a mission with a fixed purpose. What was it?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Shane Ross: Does Mr. Moran believe that has been done?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Shane Ross: Did Mr. Moran sign a contract for seven years?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Shane Ross: Mr. Moran is leaving after two, which is fairly premature. I am interested in that. Mr. Moran says he has achieved stability in the banking sector. It was reported that Mr. Draghi is refusing to release the letter written by Jean-Claude Trichet to Brian Lenihan because he says there are ongoing concerns about financial stability risks in Ireland. He is not quite ad idemwith what Mr. Moran...

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Shane Ross: It is widely reported this morning.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Shane Ross: I will quote from the letter. Mr. Draghi states that the ECB decided not to release this letter for the time being, as "the protection of the public interest as regards monetary policy in the European Union and financial stability in Ireland continued to justify the confidentiality of the letter". He further states that even though several years have passed and the prospects of the Irish...

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Shane Ross: No. This is in the context of the banking inquiry - Mr. Moran is probably aware of it - where they looked to get the letter.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Shane Ross: They do not want to release it because they think it would affect the stability of the banking system in Ireland, which is a fairly strong statement. It is in reply to a question from Martina Anderson, the Sinn Féin MEP. It is a fairly strong statement to the effect that the dangers that existed in 2010, which were obviously referred to by Jean-Claude Trichet in a letter to Brian...

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Shane Ross: Correct.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Shane Ross: Mr. Moran is doing so.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Shane Ross: Mr. Moran is being a judge in his own case-----

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Shane Ross: -----and he is being a judge in a slightly more objective-----

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Shane Ross: Obviously, Mr. Draghi does not share Mr. Moran's confidence. Otherwise, I presume he would release this letter and say it was historic. Does Mr. Moran see any real dangers ahead for the Irish economy or for the stability of the banking system? Is Mr. Moran saying we are completely out of the woods in that regard?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Shane Ross: When Mr. Moran came to the Department, did he state his targets and objectives and say that when they were achieved he would be off?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Shane Ross: Mr. Moran was in the Central Bank for four years. He is only two years in the Department.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Shane Ross: Mr. Moran has been in his job for just over two years; is that right?

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