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Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Susan O'Keeffe: Given Mr. Wright's understanding and vast experience of civil service and the way in which organisations function together, was it unusual that such push-back would have come from an official-----

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Susan O'Keeffe: No, I beg your pardon. Would that be unusual, that there would be push-back?

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Susan O'Keeffe: Mr. Wright explained that when the National Treasury Management Agency was established, some of the expertise left the Department. Am I correct in understanding it was almost akin to a divorce? It seems there was not anymore the dialogue that ought to have been there, that when they left, they left and took their advice with them. One would imagine that if they left and went to another...

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Susan O'Keeffe: Mr. Wright talk about the significance of the Department’s engagement with Europe and with European organisations. In his meetings with those between ten and 100 people, did he meet members of any of the European organisations, the European Central Bank or any of the others?

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Susan O'Keeffe: Did Mr. Wright ask them? Did he invite them?

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Susan O'Keeffe: Mr. Wright talk about how our Central Bank, because it is part of a European-wide eurozone, has less impact. Is it that it has been neutered? What is the word Mr. Wright would use?

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Susan O'Keeffe: Of course.

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Susan O'Keeffe: And Mr. Wright is saying the Irish Central Bank Governor does not have that kind of power?

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Susan O'Keeffe: Finally, if I may, when Mr. Wright talks about the three key reasons in his report for the failure of fiscal policy, he says the extraordinary expectations of Government, the budget process being completely overwhelmed by the programme for Government and the social partnership, and then he talks about the Department of Finance and he says it should have done more.

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Susan O'Keeffe: The first two are really strong statements and when Mr. Wright comes to the Department, it is very much more toned down and careful in its tone. When I read that first, it felt to me as if the Department of Finance are the good guys here and the Government and the politicians are the bad guys. That is how it felt in the language that is used there. So I just wonder if Mr. Wright might comment?

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Susan O'Keeffe: I am looking at pages 5 and 6.

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Susan O'Keeffe: Sure. I have read the report, of course.

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Susan O'Keeffe: Does Mr. Wright think the level of things that were not right either on the politicians' side or on the Department's side was a partnership of error or was it, as I take it from the report, that there was more error on the political side than on the departmental side?

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Susan O'Keeffe: That is my final question.

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Susan O'Keeffe: I do not have the exact quote to hand but Mr. Nyberg indicated yesterday that he felt there probably would not be a different outcome from this inquiry and that we already know the causes of and reasons for what happened. He was more or less asking why we are holding an inquiry. What is Mr. Wright's view on this inquiry? What does he believe - in light of his close up but very brief...

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Susan O'Keeffe: Not for retribution.

Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)

Susan O'Keeffe: So it is worthwhile.

Seanad: Water Services Bill 2014: Committee Stage (19 Dec 2014)

Susan O'Keeffe: Have a bit of respect.

Seanad: Water Services Bill 2014: Committee Stage (19 Dec 2014)

Susan O'Keeffe: He has given his attention to speakers.

Seanad: Water Services Bill 2014: Committee Stage (19 Dec 2014)

Susan O'Keeffe: That is an odd way to structure democracy.

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