Results 25,161-25,180 of 34,745 for speaker:Seán Fleming

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: There is no total on the bottom of that column.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: Is the paid-up capital €7.6 trillion?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: So €10 trillion would be-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: Dr. Gurdgiev is saying if that 70% paid up capital by the banks-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: Quantitative easing could help Russia as much as it could help-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: I have another question. Other than for legal reasons, would it be a good or a bad idea for the European Central Bank to be a market-maker as it only operates in the secondary market? It could have more direct influence if it were a market-maker.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: I know that is the law but would it be a good idea or a bad idea?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: Grand. I have that. My next question is why is this 2% plus inflation in the medium term such a sacred cow? Who said 2%?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: Dr. Kinsella will say it is improvement in services and quality of life but that is what the Governor of the Central Bank told us last week.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: Who says so?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: Is it in a European treaty or a central bank-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: Is it not in the treaty?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: Is it the ECB rule?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: Can I ask a different question? Two, one, zero and minus one are numbers. I am asking a completely different question. If one wants to get real money moving in the economy to stimulate economic activity, if the ECB set a negative interest rate of minus one percent, people who lodged €100 would be told that if it is left on deposit, it will only be worth €99 this time next...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: I will put the question again. If the European Central Bank said it was setting the interest rate at minus one percent, a person depositing €100 today would get €99 in one year's time. This would provide a tremendous incentive to move money from sitting in bank accounts or government bonds.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: I was asked to repeat the question.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: Currency is set relative to every other currency and currencies devalue. That happens anyway. The value of the euro in the bank today might be worth whatever it is against the dollar and it might be worth less in 12 months' time. That is what is happening. It is keeping its nominal value but it is not keeping its real value.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: Negative.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: Dr. Gurdgiev is saying the Bundesbank in Germany is doing that already.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: General Scheme of Public Sector Standards Bill 2015: Pre-legislative Scrutiny (8 Jul 2015)

Seán Fleming: Are we calling in some people next week?