Results 24,701-24,720 of 35,924 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Pearse Doherty: Go raibh maith agat, a Cathaoirligh agus fáilte romhat, tUasal O'Connell. Can I ask you first, after the 2004 we had the IMF, the OECD and ECOFIN all clearly recommended a tighter fiscal stance, and the building of a "cushion" for the time when income from property-related transactions would fall. Can you tell us why, in your opinion, the Central Bank's recommendations to the Minister...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Pearse Doherty: And did you appreciate that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Pearse Doherty: It's interesting that you talk about assumptions. Can you ... can you clarify maybe your role. As chief economist of the Central Bank of Ireland, would it be a case where they, you know ... these types of statistics are available to the public, they're published by the Revenue. I'm not sure if they were at that time but I know at this stage they're published by the Revenue quarterly....
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Pearse Doherty: I'm interested in just what the ESRI and ... sorry, the IMF, OECD and ECOFIN was saying in relation to property-related transactions. And when you were chief economist ... obviously, under your position of chief economist, you had the number of divisions, one of them would have been statistics - wouldn't that be ... that'd be correct - economic analysis and monetary policy and fiscal...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Pearse Doherty: And why, given that these bodies were asking for a cushion, did you ... did you decide not to look into this issue?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Pearse Doherty: Is this not a kind of ... a kind of core area of financial stability if there's a threat to a major source of income to the State being ... being evaporated over a short period of time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Pearse Doherty: Yes. I'm not sure if the IMF, the OECD and ECOFIN were all warning about property-related transactions or, for example, VAT-related transactions. I think the question really is ... is what did you do after being prompted by external agencies in relation to this matter? But you're confirming that you didn't carry out any research, or you didn't ask for any research to be carried out, until...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Pearse Doherty: Can I ask-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Pearse Doherty: Okay. In your statement you mention that at least one person on the board who was seriously concerned about the financial crisis ... and I'm not asking you ... and I'm asking you not to name the individual, but can you elaborate on the events that you remember in relation to that case?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Pearse Doherty: What year are we talking about?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Pearse Doherty: And you were at the meeting?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Pearse Doherty: Did you offer an opinion at the meeting?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Pearse Doherty: When we have a board member saying that this was going to collapse like a house of cards, is that not your prompt? As you were saying, that you were trying to get this message out for such a long time ... you're at the board meeting, one of the board members has said "This is going to collapse like a house of cards" ... is this not like the doors opened?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Pearse Doherty: Are you aware of any other contrarian voices inside the Central Bank or IFSRA and can you outline some examples? Again without mentioning names.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Pearse Doherty: Who had the authority to issue papers on the board? Like, one of the divisions under you is the publications division, when you were chief economist, who had the authority to sanction research papers? Did it have ... was it the Governor or the board or could you do that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Pearse Doherty: Property sector, property sector------
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Pearse Doherty: The question is did you have the power to authorise research papers on commercial property, for example?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Pearse Doherty: The research ... it would be researched, so you can't predetermine what the conclusion is----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Pearse Doherty: -----on a piece of research.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Pearse Doherty: No, the question is, sorry, sorry-----