Results 5,081-5,100 of 6,295 for speaker:Michael D'Arcy
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Michael D'Arcy: And they are standing firm. Did Professor Honohan get the impression that potentially there was a payback when they did not supply telephones?
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Michael D'Arcy: In previous evidence from Mr. Nyberg when he came before the committee before Christmas he made the point that the special resolution legislation was being considered in 2007 but that because of our Constitution, there could have been difficulty in passing that legislation. We subsequently passed it a number of years later, and there was not a difficulty with the Constitution. If that...
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Michael D'Arcy: The evidence presented by Mr. Nyberg was that the Central Bank and the Financial Regulator were not in favour of proceeding with that legislation. Is that Professor Honohan's understanding?
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Michael D'Arcy: I suppose-----
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Michael D'Arcy: Between his report and his piece for the Lenihan book, Professor Honohan seemed to pour scorn on some of the advice, and even today he speaks about experts within the elite international investment banks. An example I would give him is that Merrill Lynch said that Anglo Irish Bank was financially sound 11 days before it was nationalised. Merrill Lynch got a fee of €11 million for...
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Michael D'Arcy: I am sorry, but 11 days later they were nationalised.
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Michael D'Arcy: But Merrill Lynch said that they were financially sound.
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Michael D'Arcy: No.
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Michael D'Arcy: Is there any particular reason the Central Bank financial stability reports ceased reporting on the extent to which property was over-valued after 2006?
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Michael D'Arcy: Professor Honohan used the term "let us not frighten the horses", which, from what I am told, appears to have been the intention. Was that not contrary to the oversight role of the Central Bank and Financial Regulator? Was the role of the Central Bank and Financial Regulator not exclusively to ensure that if the horses needed to be scared they would be scared?
- Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)
Michael D'Arcy: It is important that on occasion that occurs.
- Seanad: Water Services Bill 2014: Committee Stage (19 Dec 2014)
Michael D'Arcy: That is not related to this section.
- Seanad: Order of Business (19 Dec 2014)
Michael D'Arcy: I want to raise the matter of domestic violence even though it might seem to be regrettable to raise is prior to Christmas. For a lot of people this time year is a family time but it can also be a very difficult time. I noticed that the Minister for Justice and Equality made a very substantial statement in the Dáil on domestic violence two days ago. At the earliest opportunity in the...
- Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)
Michael D'Arcy: Suitably qualified people were not available in the Department of Finance at the time. Mr. Nyberg stated yesterday that people who give advice give advice and that those who make decisions make decisions. Would it have made any difference if suitably qualified people had been in place in the Department of Finance and had given alternative advice to those who made the decisions? Is it not...
- Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)
Michael D'Arcy: In yesterday's evidence, Mr. Nyberg stated that the Central Bank and Financial Regulator blocked the introduction of a special resolution scheme or legislation in 2007. As the witness knows, it would have been a useful tool available to the Department of Finance in the event of an economic crash. Should the Department of Finance have been stronger in standing up the Central Bank and...
- Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)
Michael D'Arcy: Mr. Wright has done in-depth analysis of the Department of Finance. Yesterday, in evidence, we had a conversation regarding contrarian views among staff. Did Mr. Wright see any evidence of potential for somebody with an alternative view that was not of the mainstream? Could that have had an impact on promotion within the Department?
- Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)
Michael D'Arcy: There was a specific question. For those who held a contrarian view, did it impact on their prospects of being promoted if they were seen as somebody who has an alternative none-mainstream view and if they pursued that position, they would not be considered for promotion whenever promotion came around and they were considered difficult to manage?
- Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)
Michael D'Arcy: I welcome Mr. Wright and thank him for coming. It is important to set the scene for people. Mr. Wright was the Secretary General in the Department of Finance in Canada.
- Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)
Michael D'Arcy: The Canadian economy, he said, is a small economy but it is in the top ten economies, or thereabouts, worldwide.
- Committee of Inquiry into the Banking Crisis: Context Phase (18 Dec 2014)
Michael D'Arcy: One could say that Mr. Wright is one of the top ten civil servants worldwide.