Results 8,481-8,500 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

Ciarán Lynch: Was that because the equity in the property was accumulating so rapidly that one could turn it around in 12 months without having let it and still make a profit?

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

Ciarán Lynch: On that analysis, the equity increase on a compound basis was greater, in some cases, than rental income on a property.

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

Ciarán Lynch: in that regard, was that the optimum period for an intervention to have been made by the State or the regulator?

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

Ciarán Lynch: Would it have been possible to have made a successful intervention after 2004?

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

Ciarán Lynch: In regard to Senator Barrett's earlier comments on the period during which Professor Ahearne was working for the late Brian Lenihan, were you compensated for your role during that period?

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

Ciarán Lynch: Please allow Professor Ahearne time to respond.

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

Ciarán Lynch: Deputy Higgins has a minute and a half remaining, so I suggest he move towards asking his final questions.

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

Ciarán Lynch: We will wrap up soon. I invite Deputy Eoghan Murphy, followed by Senator Marc MacSharry.

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

Ciarán Lynch: I want to wrap up a couple of matters. I return to a earlier question by Senator Michael D'Arcy. Did the way the guarantee was designed have any relationship with Ireland being required to enter a bailout programme two years and two months later?

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

Ciarán Lynch: I was asking about the way the guarantee was designed.

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

Ciarán Lynch: I am asking if there is a relationship between the design of the guarantee and our ultimate entry into the bailout programme.

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

Ciarán Lynch: The other matter I want to deal with goes back to an article Professor Ahearne wrote in 2008 and I believe it was written for the Sunday Independent. He posed the question of how much of what ails the Irish property market we can blame on the US sub-prime meltdown and the resulting international credit crunch. He answered it by stating that it was probably a lot less than some people would...

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

Ciarán Lynch: If international factors were not at play and given the behavioural aspects in Ireland, in terms of weighing up the situation with regard to international and domestic factors, in Professor Ahearne's judgment where does it fall at either side with regard to the behavioural aspects of it? Was it a domestically manufactured crisis or was it an internationally manufactured crisis?

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

Ciarán Lynch: In terms of weighing them, was it a ratio of 40:50 or 50:50?

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

Ciarán Lynch: In view of the severity of the banking crisis in Ireland and the hard lessons learned by the country, what does Professor Ahearne believe are the main lessons for improving economic surveillance and policy-making by Irish authorities in the coming years? Given that this inquiry is as much about looking to the future as it is about looking back to the past, does he have any thoughts that he...

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

Ciarán Lynch: Professor Ahearne would have confidence in the surveillance mechanisms used by those external international agencies.

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

Ciarán Lynch: Much of the testimony of people, like Professor Ahearne, who have examined booms and bust cycles has been that the difference with the next boom is that there will be a material difference compared with the previous one and that is why it is not actually identified. Given the current context of the Irish property market, does Professor Ahearne see any abnormality in it at present that was...

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

Ciarán Lynch: Is Professor Ahearne in agreement with the Governor's position on that?

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

Ciarán Lynch: Thank you very much, Professor Ahearne. I thank you for your participation before the inquiry today. It has been a very informative and a valuable meeting which has added to our understanding of the factors leading to the banking crisis in Ireland.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: Estimates for Public Services 2015
Vote 11 - Department of Public Expenditure and Reform (Revised)
Vote 12 - Superannuation and Retired Allowances (Revised)
Vote 14 - State Laboratory (Revised)
Vote 15 - Secret Service (Revised)
Vote 16 - Valuation Office (Revised)
Vote 17 - Public Appointments Service (Revised)
Vote 19 - Office of the Ombudsman (Revised)
Vote 39 - Office of Government Procurement (Revised) (4 Mar 2015)

Ciarán Lynch: We will consider the supplementary information received in respect of the 2015 Revised Estimates for the Public Service for the Department of Public Expenditure and Reform group of Votes. The Dáil ordered on 18 December 2014 that the following Revised Estimates for the Public Services be referred to this sub-committee for consideration: Vote 11 - Public Expenditure and Reform, Vote 12 -...