Results 7,021-7,040 of 7,975 for speaker:Joe Higgins

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: But, whoever said it, Mr. Cardiff, it obviously was said because you made a note of it. Doesn't that strongly suggest that both INBS and Anglo ... but for the purposes of this questioning just at the moment, INBS was not solvent?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: Okay-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: Okay. But was it very strange then, Mr. Cardiff, that the Taoiseach came in and from the very beginning, according to your statement, was for a broad pre-emptive guarantee, rather than doing the sums first and seeing what the potential exposure might be?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: Thank you, Mr. Cardiff, my last question on this. Just by the way in passing, you might say in a word before I ask this question or when you answer it, if, if the Minister for Finance was overruled on the issue of broad guarantee on the night, as some have, have speculated. But I want to ask you just this last question, Mr. Cardiff, that in response to Deputy Doherty, you listed really one...

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: It was a question, Mr. Cardiff.

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: And the Minister for Finance overruled?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: Just that point, one point, it's only a sentence.

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: The Minister for Finance, was he overruled on the night by the Taoiseach?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: Thank you, Mr. Cardiff.

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: Yes, Mr. Moran, just on that very issue. I've no doubt that many people would feel that some Deputies put in unnecessary questions but, equally, a very high-profile controversy really revealed the fact that a Deputy had to submit about 20 questions before ... before getting the answer. Isn't that a waste of parliamentary time, giving insufficient answers that have to be ... come back to...

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: Yes, but what about insufficient answers?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: Okay. Mr. Moran, while you were Secretary General, did your staff regularly engage in meetings on a European level? And, for example, with agencies like the economic and financial committee, EUROSTAT committee and monetary ... on monetary, financial and balance of payment statistics, and what was the nature of that interaction?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: Thank you. Would it be incorrect if somebody interprets some remarks you made today and previously that you minimised the role of the banks' property speculation and profiteering in building up this huge bubble that disastrously crashed in 2007 and 2008, legislated, of course, for by a political establishment?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: I think it will be pointed out though, Mr. Moran, that, you see, a huge amount of the borrowing was because of the irresponsible actions of the banks in crashing the economy and then the burden was still put on ordinary people. But, because of time, I want to move on and ask you - it ... this happened in your time and your advice to the Minister - do you think it's right that Bank of Ireland...

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: Finally, Mr. Moran, you indicated at the beginning the necessity of a clash of ideas and challenging ideas. Statements I've heard attributed to you and even today might indicate a belief in a capitalism that is red in tooth and claw. I'd be interested in seeing what your attitude is if you look at the sweep of the last ten to 20 years in the financial sector internationally. Nyberg said, I...

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: Yes. Mr. Moran, in 2005, when you were assistant secretary for the budget and economic division in the Department of Finance, the Department of the environment expressed concerns at the effect of the introduction of 100% mortgages, indicating that it could give rise to serious indebtedness of households. And in response, the Department of Finance adopted the position this was a consumer...

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: You can't cast any light on it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: Okay, thank you. Mr. Moran, in the course of the bubble period, when you were in the budget and economic division and then in the taxation policy division, we have evidence in the core books - which I'm not going to take the time to put up - but of strong lobbying by construction interests and developer interests. There is an example of a letter refracted through a member of parliament from...

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: Yes. That's Vol. 3, page 52.