Results 24,121-24,140 of 35,924 for speaker:Pearse Doherty

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Pearse Doherty: Thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Pearse Doherty: Go raibh maith agat, a Chathaoirligh, agus fáilte roimh an tUasal McCreevy. Can I begin first of all by asking you through 1999 to 2003, the Governor and the Central Bank warned you of excessive growth in the credit markets, warned you about the housing markets, commercial property markets, overheating in the economy and, finally, the possibility of a hard landing and this could lead to...

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Pearse Doherty: So, would that be a "No"?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Pearse Doherty: The question I asked you. The question was, in relation to the warnings that the Central Bank were issuing you in relation to your policies in terms of the credit market, the housing market, the commercial property, the fact that they were warning of the possibility of a hard landing which could lead to unhappy economic and social consequences, with hindsight, and given the advice you were...

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Pearse Doherty: Okay, I appreciate that. Do you accept at all that your policies had ... well, first of all, can I ask you do you believe that there was a property bubble?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Pearse Doherty: Yes, we do.

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Pearse Doherty: So ... but do you believe, do you acknowledge that there was a property bubble-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Pearse Doherty: -----at some stage?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Pearse Doherty: Yes, I appreciate that, Mr. McCreevy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Pearse Doherty: I know. I understand. I am not-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Pearse Doherty: -----looking for an answer in terms of the demographics, I just wanted to know, as a former Minister for Finance, do you believe that in any time there was a property bubble in the last 15 years in Ireland? Just to find some basics as to what your thinking is.

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Pearse Doherty: And any other questions that the committee deem relevant and this is one of the questions to try and understand your thinking, whether you're a person who denies that there was a property bubble in the run-up to the crisis or whether you're a person who accepts there was a property bubble and then it will lead me on to looking at your policies and seeing did your policies have a role-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Pearse Doherty: -----on that either fictional property bubble or a property bubble that you acknowledge exists.

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Pearse Doherty: So, will you answer the question?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Pearse Doherty: The question again is do you ... are you somebody who acknowledges that a property bubble happened in this country in the lead-up to the crisis?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Pearse Doherty: Do you acknowledge that a property bubble emerged after your time as Minister for Finance?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Pearse Doherty: I'm looking for your view.

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Pearse Doherty: You don't have a view?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Pearse Doherty: See, can I ask the Chair ... just a minute. I want to ask the Minster for ... I want to ask the former Minister about property tax reliefs that you introduced and continued to extend and did they have an impact to fuel the property bubble. I need to determine here, at the committee, whether you believe there was a property bubble or not. I cannot ask the questions because you're avoiding...

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Pearse Doherty: -----and which has been ... you know, which has come from the Honohan report and other reports. Chairperson, I'm asking-----