Results 2,541-2,560 of 14,090 for speaker:Marc MacSharry
- Public Accounts Committee: Business of Committee (4 Jul 2019)
Marc MacSharry: It is good stuff.
- Public Accounts Committee: Business of Committee (4 Jul 2019)
Marc MacSharry: For what it is worth, the MacGill Summer School has taken the lead from the Committee of Public Accounts and now has a section on the topic of the Miesian Plaza disaster.
- Public Accounts Committee: Business of Committee (4 Jul 2019)
Marc MacSharry: I am a former member of the Houses of the Oireachtas Commission so I would not panic.
- Public Accounts Committee: Business of Committee (4 Jul 2019)
Marc MacSharry: Who is the Accounting Officer?
- Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019) Marc MacSharry: I welcome our guests and thank them for the presentation. I have a few questions. Anybody looking in who, like me, has a basic understanding of these matters will require the Ladybird explanation in respect of some points. Deputy Catherine Murphy mentioned that the Italian borrowing is primarily internal. The yields on Italian debt are approximately 3.5% or 4%.
- Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019) Marc MacSharry: We are at 0.5%. Is it Mr. O'Kelly's sense of the market that a major crash is anticipated in Italy?
- Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019) Marc MacSharry: Investor sentiment is saying to us that things are not good in Italy.
- Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019) Marc MacSharry: There is nothing we can do about that and, in the European context, there is very little the EU can do.
- Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019) Marc MacSharry: People have to manage their own contingency as best they can. The NTMA carries on average €10 billion of forward funding, but it is €20 billion at the moment because maturities are coming up. What happens if the wheels come off post Brexit? What if there is a major problem and something manifests itself in Italy or Portugal or elsewhere? How is the State fixed then? I...
- Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019) Marc MacSharry: For people watching at home, the understanding generally is that our debt is at €205 billion but we are not borrowing any more or adding to that. Is that correct?
- Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019) Marc MacSharry: When Mr. O'Kelly said the State will be borrowing for a very long time into the future, he was referring to refinancing, managing maturities and making sure that if the market improves, we can diversify our debt for better interest rates. We are not borrowing at the moment. There is speculation in the media and in some ministerial announcements that there is the potential for two budgets in...
- Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019) Marc MacSharry: We do not want to comment on policy anyway. Policy aside, the economic statement published a few week ago indicates that there is €2.8 billion of fiscal space with €2.2 billion committed. If things go bad for the HSE in the next period, that €2.8 billion will be gone and there will be no money. Is the NTMA preparing for the fact that we might need a few extra euros...
- Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019) Marc MacSharry: If we go back to borrowing-----
- Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019) Marc MacSharry: In the event that things do not play out particularly well and the Oireachtas decides to pass a budget involving a €5 billion deficit in current expenditure next year, what would be the likely impact on yields available to the NTMA to raise money?
- Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019) Marc MacSharry: Based on the NTMA's experience, what would the impact be? We are down to a bond yield of 0.5%; it was a very high a number of years back but, thankfully, bond yields have recovered since. Would it be a major statement to the markets if Ireland was not just debt managing but borrowing €5 billion as a Brexit contingency? I know we are talking about hypotheticals but what rate of...
- Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019) Marc MacSharry: They are also opportunistic, in the sense that if they can sell something for €10 billion, they will, rather than taking €5 billion. Will preparations for a hard-Brexit budget - one of the two that is being prepared at the moment - have an impact on yields on an opportunistic basis? People know that they will be paid back because Ireland is not Venezuela. Might it be used as...
- Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019) Marc MacSharry: It would be reasonable to expect a modest spike for a short period.
- Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019) Marc MacSharry: Why is the NTMA not buying its new offices?
- Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019) Marc MacSharry: Is it important to be on the North Dock?
- Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019) Marc MacSharry: If the office was in Kildare, say, would that matter?