Results 23,041-23,060 of 26,960 for speaker:Richard Boyd Barrett

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (20 Dec 2012)

Richard Boyd Barrett: So have we.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (20 Dec 2012)

Richard Boyd Barrett: With respect, is there a rule book which we can look at?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (20 Dec 2012)

Richard Boyd Barrett: I thank the officials for taking us through the emerging labyrinthine architecture of the new banking union. I need an idiots guide to understand it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (20 Dec 2012)

Richard Boyd Barrett: I appreciate that it is quite complicated and there seems to be a problem in co-ordinating the different elements of the European Union's architecture between the ECB, the Parliament, the Commission and so on, and perhaps that explains its complexity. In order to understand it, may I ask the following questions? Is it basically the case that the Parliament writes the rule book, the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (20 Dec 2012)

Richard Boyd Barrett: The eurozone states look after the implementation of the rule book on a day-to-day basis. Do they ensure the banks are operating to the rules?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (20 Dec 2012)

Richard Boyd Barrett: Will we have one representative on this board?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (20 Dec 2012)

Richard Boyd Barrett: Is the supervisory board supposed to be very separate in its operations?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (20 Dec 2012)

Richard Boyd Barrett: Is it correct that the supervisor will be accountable to us? If we want to ask questions about what is going on, do we quiz our delegate or representative on the single supervisory mechanism, SSM; board?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (20 Dec 2012)

Richard Boyd Barrett: I thank Mr. Carrigan for helping us get the structure clear in our heads. To what extent is the rule book written? Will it be possible for us to see the rule book which will then be applied by the supervisory mechanism? Will the rule book be in a fairly clearly understandable form? We are talking in terms of architecture and engineering of the supervisory structure, but then of course...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (20 Dec 2012)

Richard Boyd Barrett: It will supervise their implementation.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)

Richard Boyd Barrett: That is weak, Dr. Somers.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)

Richard Boyd Barrett: One individual can invalidate the whole proposal?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)

Richard Boyd Barrett: I am not talking about apartment blocks. My question was very specific. Will Mr. Spring answer it? In the period 2000 to 2007, before the collapse of the property bubble, people borrowed to put a roof over their head. What is the moral hazard of writing down their mortgages to current market values? I can see nothing morally hazardous about doing that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)

Richard Boyd Barrett: Do the witnesses know how much it would cost to do? Perhaps the witnesses would be able to provide that information. TSB said it would look into it and provide the joint committee with the information.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)

Richard Boyd Barrett: I have a few questions, as we all do, to ask of AIB. There is a marked contrast between the attitude of Dr. Somers and Mr. Spring towards this committee, in their willingness to answer questions and their greater sensitivity to some of the issues we are raising, and that of the public interest directors from the Bank of Ireland. Would the witnesses agree this contrast has something to do...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)

Richard Boyd Barrett: Mr. Spring is not going to say it but it needs to be said. It speaks for itself. I was nice in my first question but while this is not a matter of chasing individuals I have worked out from the witnesses' answers that Mr. Spring receives approximately €1,000 per meeting and Dr. Somers receives €3,000 per meeting. Carers work just as hard as Mr. Spring and Dr. Somers and their...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)

Richard Boyd Barrett: Does Dr. Somers think he works harder than a carer and deserves to receive for one meeting, even allowing for preparatory work, five or six times what a carer earns in five weeks?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)

Richard Boyd Barrett: Carers will be doing their work for the rest of their lives. I would like to put the same question to Mr. Spring.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)

Richard Boyd Barrett: I am not being rude but I have very little time and I was concerned about the contrast between what a carer does working long hours and what a banker does. Does Mr. Spring really think that people like him and Dr. Somers or bank executives are worth multiples-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)

Richard Boyd Barrett: It is too much.