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Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)

Susan O'Keeffe: Could Professor McDonough expand on that?

Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)

Susan O'Keeffe: On that note, if one were to examine any economy, would one, as best practice, include the financial sector as part of the activity?

Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)

Susan O'Keeffe: Was the ESRI alone in thinking the financial sector did not matter?

Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)

Susan O'Keeffe: On page six of Professor McDonough's statement, he described the IFSC as "an important conduit for foreign capital flows". Is he saying the existence of the IFSC was what allowed the flow of foreign capital and had it not existed, there could not have been such a flood?

Committee of Inquiry into the Banking Crisis: Context Phase (26 Feb 2015)

Susan O'Keeffe: When Professor Gregory Connor gave evidence he said 88% of GDP was coming in as hidden borrowing through the banking system, and we are on the hook for it. How did we arrive at such a position?

Seanad: Mid-Term Review of the Europe 2020 Strategy: Statements (3 Mar 2015)

Susan O'Keeffe: I welcome the Minister of State. This debate is very important. If one were to go out on to the street and ask people about the Europe 2020 strategy they would struggle to answer. Senators and the Minister of State have a role to play in improving that situation. In a way, he gets buried and caught in the detail because of the work he must do. Therefore, as other public representatives,...

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

Susan O'Keeffe: Did anybody in authority, either formally or informally, seek Dr. Bacon's advice about the bank guarantee?

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

Susan O'Keeffe: Between his housing report in 2000 and his report to NAMA in 2009, was Dr. Bacon involved in compiling any other reports for Departments, semi-State agencies or similar entities?

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

Susan O'Keeffe: I appreciate that is how Dr. Bacon makes his living. However, I am specifically asking whether he compiled any other reports for Departments or whether his work during the period related to the private sector.

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

Susan O'Keeffe: So it was a mix.

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

Susan O'Keeffe: When did Dr. Bacon work as an adviser to Bertie Ahern?

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

Susan O'Keeffe: What kind of an adviser was Dr. Bacon to Mr. Ahern?

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

Susan O'Keeffe: How did that come about. Was Dr. Bacon a member of the party?

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

Susan O'Keeffe: So how did it come about that Dr. Bacon worked with him?

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

Susan O'Keeffe: At the turn of the previous decade, Dr. Bacon made a number of recommendations in respect of how to calm the housing market. Variously, those recommendations were subsequently overturned, ignored or abandoned.

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

Susan O'Keeffe: At some point thereafter, Dr. Bacon started working for a number of developers and, as he indicated earlier, that is his job. Ultimately, how would he describe himself? Would it be as an economist or a developer?

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

Susan O'Keeffe: But Dr. Bacon was a director of Ballymore Properties.

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

Susan O'Keeffe: What was his relationship with that company if he was a director rather than a developer?

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

Susan O'Keeffe: Yes, but Dr. Bacon was also a director of the business.

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

Susan O'Keeffe: Dr. Bacon obviously identified the fact that problems were arising in the 1990s. He had concerns and he made recommendations. At what point did he realise that everything was going south and become concerned about what was happening?

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