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Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)

Susan O'Keeffe: How did Professor FitzGerald manifest his concern?

Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)

Susan O'Keeffe: Can Professor FitzGerald recall whether the various reasons included a reluctance on anyone's part, or simply a diary clash or-----

Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)

Susan O'Keeffe: Would Professor FitzGerald have ever taken those concerns to a wider place or to anybody else? Did he think: "If I cannot get into that office, shall I go somewhere else?"

Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)

Susan O'Keeffe: How would Professor FitzGerald describe his own level of frustration over years of deciding he was not campaigning, which I understand, in terms of giving information to people and watching those people not take it, for a variety of reasons?

Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)

Susan O'Keeffe: During Professor FitzGerald's tenure at the ESRI, was he aware of efforts made to reduce the dependence on contracts or contractual arrangements, or work being done for Government in order to try to rebalance, if one likes, its income streams?

Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)

Susan O'Keeffe: Can Professor FitzGerald tell us how many banks the ESRI worked for during this period of time. He mentioned the approach made by AIB and mention was made of PTSB. Did the professor do work for others?

Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)

Susan O'Keeffe: Was it macroeconomic advice that was provided?

Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)

Susan O'Keeffe: Did that preparation involve Professor FitzGerald or his colleagues on the team looking at the bank figures?

Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)

Susan O'Keeffe: Was Professor FitzGerald ever approached privately, as a professor as opposed to in his day job, to do work for anybody else?

Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)

Susan O'Keeffe: Did Professor FitzGerald do any other work? I am not talking about moneys he may have been paid, but asking whether he did any other relevant work.

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Susan O'Keeffe: I thank Mr. Buti. I would like to start with what he says on page 8, where he says: "We assumed they would do their job in a conscientious manner." He was, of course, speaking about national supervisors and regulators in regard to their supervision of the banking sector. Did the regulators and supervisors in Ireland do the job in a conscientious manner?

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Susan O'Keeffe: Was it a good approach on the part of the Commission to assume that anyone would do their job in that manner?

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Susan O'Keeffe: Mr. Buti states on page 8 of his presentation that the Government - meaning the Irish Government - had to step in with its deep pockets to stave off the collapse of the financial sector and the economy as a whole. Will Mr. Buti explain what he means when he states the Government "had to" step in?

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Susan O'Keeffe: The expression "had to" does not mean the Government was forced to do this.

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Susan O'Keeffe: In January 2001, the EU Commissioner, Pedro Solbes, announced a recommendation under Article 99.4 of the treaty would be made against Ireland. I understand this was the first time a recommendation of that kind had been made. How important or significant was it or was it run of the mill? Was it a case of, "We can do this. We will start here"? Was it a very big, important moment?

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Susan O'Keeffe: Mr. Buti makes clear on page 5 of his statement that it was not implemented by Ireland. Who in Ireland did not implement it?

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Susan O'Keeffe: As Ireland did not implement it, was this something of which the European Commission took cognisance or remembered? How would it have fed into our relationship with the Commission over the years which followed, given that the Government had not implemented what it was asked to implement in 2001, or was it just a case of it not mattering?

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Susan O'Keeffe: I understand that, but I am asking whether this fed into or changed the relationship between Ireland and the Commission or did it make any difference?

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Susan O'Keeffe: I wish to clarify. At that time and in those conversations, was all that done in writing only? Were there face-to-face meetings with the Minister for Finance, the Taoiseach or the Tánaiste? Was it just a mindset of here is the piece of paper and get on with the job?

Committee of Inquiry into the Banking Crisis: Context Phase (18 Feb 2015)

Susan O'Keeffe: Mr. Buti said on page 6 that as the years passed, and we are talking about 2002 to 2006, inclusive, "the Commission did not shy away from taking a critical view" of Ireland. Mr. Rob Wright gave evidence here following his report on the Department of Finance. He said Mr. Buti's criticisms "were leavened by favourable comment and even praise for Irish policy." How could Mr. Buti be critical...

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