Results 5,441-5,460 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: Sorry to go over this again, in the 2007 financial stability report, the view was taken that there would be a soft landing in the economy and Professor Honohan, in his report, wrote that there was no analytical evidence for this conclusion in that report. So can you remember that discussion and how you decided to favour the soft landing for the report?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: Mr. Begg, did anyone say, "Where's the evidence for this? Where's the evidence in this report for the soft landing?"
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: Leaving the orthodoxy aside for a moment, in 2006 the financial stability report had a report on overvaluation of house prices. It didn't feature in the 2007 report. Subsequently, looking back from 2008, they saw that, had it featured it would have showed an over-valuation of more than 30%. So, being involved with the financial stability reports each year, did you not notice in 2007 ......
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: Concerning the lack of the research in that particular financial stability report?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: I think it was subsequently found that had that research been in the financial stability report, you couldn't have reached the conclusion of a soft landing. So I don't think it's correct to say-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: Just moving on, Mr. Begg, if I may, you were chairman of the audit committee. How long were you chairperson of that committee?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: About ten years, okay. And what exactly did that involve then?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: Of the Central Bank but not the individual banks?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: Of the Central Bank but not the individual banks?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: And did that work change at all after the Act of 2003?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: There was two separate audit committees, one for-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: So as chairperson you had sight, then, as well operationally of the audit of the Financial Regulator.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: Okay. And do you think there were sufficient technical skills in the audit committee to properly do its work?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: Yes, about the committee.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: My final question, if I may, Mr. Begg, is in relation to your oral remarks today. You mentioned social partnership quite a bit.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: In your opening statement.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: When you were coming in - and writing your written statement - to appear and addressing your role as general secretary, it didn't occur to you to address social partnership?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: But when you were ... you have a section in your written statement talking about your role as general secretary and looking back on the crisis period.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: And even though we've had findings in, for example, the Wright report, saying that social partnership overwhelmed the budgetary process, you didn't think to address that issue in your written statement or to comment on that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: You don't think Ireland had a fiscal crisis?