Results 12,501-12,520 of 16,492 for speaker:Ciarán Lynch

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

Ciarán Lynch: Thank you very much, Deputy. Mr. Moran, if I can maybe just move on to kind of a similar theme with you? You seem to indicate in your statement that for the period of 2003 to 2008, the Department was reassured by the absence of any reference in the letters from the Central Bank Governor to a slowdown in housing, and by favourable assessments from an international body such as the IMF....

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

Ciarán Lynch: All right. Can I maybe just move on to one other item then? You refer to the December 2005 stability programme update which warned of the economy being vulnerable to the construction sector and that the Department had concluded that reliance on construction was becoming one of the biggest risks to economic development in the country. Could I ask you to elaborate in what way, if any, the...

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

Ciarán Lynch: Okay, and just to tidy up on Deputy O'Donnell's question there in regard to property incentives, how long is reasonable for those things? Do you think the incentives went beyond a reasonable period of time or were they ended in due-----

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

Ciarán Lynch: Yes.

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

Ciarán Lynch: In what way?

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

Ciarán Lynch: Okay. Thank you very much. Our next questioner is Senator Sean Barrett. Senator.

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

Ciarán Lynch: Ask a question, Senator.

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

Ciarán Lynch: Thank you very much. Next questioner is Senator Susan O'Keeffe.

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

Ciarán Lynch: Deputy Higgins.

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

Ciarán Lynch: Is there any way, Joe, because we just keep getting longer-----

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

Ciarán Lynch: Financial, you have it.

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

Ciarán Lynch: Okay. That's fair enough.

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

Ciarán Lynch: Okay. Thank you. Deputy John Paul Phelan.

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

Ciarán Lynch: Thank you very much, Deputy, and I'm going to move to wrapping things up, if I can invite Deputy McGrath first, and then Deputy O'Donnell.

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

Ciarán Lynch: Thank you very much. I'm going to bring matters to a conclusion, Mr. Moran, and I invite any closing remarks that you want to make. But maybe if I could put them in a context, that would create that space for you. The troika have, and the surveillance programme that the country was in ended during your tenure. However, there is still a major deficit, that this country in debt, that this...

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

Ciarán Lynch: Yes, okay. And we have still a set of matrix that we now need to adhere to and the obvious outcome is if we didn't adhere to them, we could potentially be in a bailout programme again. So, I suppose, it's a very simple question is, now that we're out of the programme, are we grown up enough ourselves to do it independently and what action are we taking to retain monitoring and warning...

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

Ciarán Lynch: Okay.

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

Ciarán Lynch: So we are still adolescents, if you were to use that term, instead of mature?

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

Ciarán Lynch: And just a final comment again, and those concerns are still in the property, construction, housing sector? It's not in somewhere new?

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

Ciarán Lynch: That will be something that we will consider when we move to our recommendations in the course of our inquiry. Thank you very much, Mr. Moran. So, with that said I would like to thank you for your participation here today. Our apologies for delaying in bringing you in but we did bring you in and thank you for your engagement with the inquiry. So, I can now formally excuse you and adjourn...