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Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Joe Higgins: Mr. McArdle?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Joe Higgins: Okay. Mr. McLaughlin, I should say to you in relation to your question, rhetorical or not, that as a member of the inquiry, I'm not allowed to pronounce on my critique of the shortcomings or otherwise of the capitalist economy and the production of ... the necessities of life for our people. But-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Joe Higgins: But ... gentlemen, rather than put contrarians into a box, as you've just done now, Mr. McArdle, I would suggest perhaps ... that's what I take from what you said ... that we look at the substance of what was being said. And, could I put it to you, you know, learned gentlemen and experienced economists, but a child socialist with a very basic knowledge of some of the fundamentals of Marxism,...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Joe Higgins: Yes, okay. One person you couldn't have failed to see, or hear, during the ten years of the bubble, was Mr. McWilliams. None of you commented on that. The substance of the quotes I gave, is that or is that not very accurate assessment of what actually happened?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Joe Higgins: Gentlemen, briefly, did any of the other two gentlemen, did any of you take any serious notice of what David McWilliams was writing about from 2000 onwards?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Joe Higgins: We've had substantial evidence here in relation to that, Mr. McLaughlin, which bears out what you're saying. All the evidence that was given is the commercial lending and so on was huge. Just a last question to you three gentlemen. You covered property and construction in a number of your reviews. Was the level of risk concentration apparent to you at the time, as it occurred, or did you...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Joe Higgins: Mr. McArdle?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Joe Higgins: Thank you. Mr. McLaughlin?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Joe Higgins: Gentlemen, were your inputs as economists used to influence the internal policies of your banks regarding issues of liquidity and solvency?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Joe Higgins: Mr. McArdle?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Joe Higgins: Okay. Thank you. Mr. McLaughlin?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Joe Higgins: Okay. Thank you. And a technical question in regard to risk metrics in economic statistics. What mechanisms and data did you use to analyse the economic outlook that you delivered?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Joe Higgins: Okay, Mr. Beggs?

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Joe Higgins: So, you're all using the same basic data, in other words, is what you're saying? Yes, okay. Mr. McLaughlin, just going back to the point of commercial property housing crash, etc. Would it be true to say that there is quite a link between them in the sense that significant commercial loans would have been given, as you clarified, for what were to be extensive residential developments, and...

Committee of Inquiry into the Banking Crisis: Nexus Phase (7 May 2015)

Joe Higgins: Yes, the ... a link. And the last question, Chair, is this. I think it was Mr. McArdle, it was yourself, I think, at an earlier stage you were beginning to take exception to the idea that forecasts, good or bad, may have had some input in relation to the bailouts, etc. that happened, when ... that ... could I just say to you that if the bank economists had what's, wrongly called, more...

An Bille um an gCeathrú Leasú is Tríocha ar an mBunreacht 2014: An Dara Céim [Comhaltaí Príobháideacha] - Thirty-fourth Amendment of the Constitution Bill 2014: Second Stage [Private Members] (8 May 2015)

Joe Higgins: Unfortunately, the contribution by the Minister for Health was disingenuous in the extreme. He contradicted himself in virtually every second sentence. He said:I believe that this matter should be dealt with in the 32nd Dáil, when parties have a fresh mandate from the people for their policies. I do not want it to be an election or pre-election issue. It needs to be dealt with...

An Bille um an gCeathrú Leasú is Tríocha ar an mBunreacht 2014: An Dara Céim [Comhaltaí Príobháideacha] - Thirty-fourth Amendment of the Constitution Bill 2014: Second Stage [Private Members] (8 May 2015)

Joe Higgins: The two Ministers are talking instead of listening to the arguments. That is very ignorant.

An Bille um an gCeathrú Leasú is Tríocha ar an mBunreacht 2014: An Dara Céim [Comhaltaí Príobháideacha] - Thirty-fourth Amendment of the Constitution Bill 2014: Second Stage [Private Members] (8 May 2015)

Joe Higgins: There are so few people in the Chamber. Now that the Labour Party has deigned to come in, the Minister of State, Deputy Ó Ríordáin, might listen.

Ceisteanna - Questions (Resumed): European Council Meetings (12 May 2015)

Joe Higgins: 18. To ask the Taoiseach if he will report on meetings and discussions he had at the European Council meeting in December 2014; and if he will make a statement on the matter. [3365/15]

Ceisteanna - Questions (Resumed): European Council Meetings (12 May 2015)

Joe Higgins: 43. To ask the Taoiseach if he has met the Prime Minister of Greece, Mr Alexis Tsipras; and if he will make a statement on the matter. [8838/15]

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