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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (9 Oct 2024)

John McGuinness: Yes, I have noticed a shift backwards. I find the banks' behaviour appalling. Deputy Durkan is right; vulture funds are shocking in the way they treat people. When they contact me to query me on a particular file which I may not have with me at the time, they will then write to me to say I am not co-operating with them. I do not walk around with 20 files under my arm waiting for one of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (9 Oct 2024)

John McGuinness: A cash centre.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (9 Oct 2024)

John McGuinness: How will that be funded? Will it be funded directly from the Department?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (9 Oct 2024)

John McGuinness: Central Bank funding comes from the banks. Is that right?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (9 Oct 2024)

John McGuinness: We will not have issues like those at the children's hospital in respect of the safe house for the cash. I presume teams of professionals will be working to ensure value for money and all of that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (9 Oct 2024)

John McGuinness: That is something the committee is conscious of.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (9 Oct 2024)

John McGuinness: I will also ask about the retreat.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (9 Oct 2024)

John McGuinness: I know. Mr. Makhlouf was perfectly right to do so and I was glad to see that the economy of Kilkenny benefited. Was it necessary?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (9 Oct 2024)

John McGuinness: Kilkenny was absolutely necessary. I read about the cost of the retreat in the Irish Independent. If it is an engagement, you circulate, mix and all of that. If politicians did it, we would be harassed by the general public for that kind of spending. Surely the work that was done could have been done without the elaborate spending that took place.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (9 Oct 2024)

John McGuinness: I must ask Mr. Makhlouf that question.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (9 Oct 2024)

John McGuinness: The Central Bank did a good job with the retreat.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (9 Oct 2024)

John McGuinness: Mr. Makhlouf means Kilkenny city, but he is pushing all the right buttons.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (9 Oct 2024)

John McGuinness: How was the retreat paid for?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (9 Oct 2024)

John McGuinness: It was not paid for by the contributions made by the banks.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (9 Oct 2024)

John McGuinness: It was paid for out of the Central Bank's resources.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (9 Oct 2024)

John McGuinness: It was brought to my attention as an extravagant event. I would like to know more about the purpose and what the Central Bank actually gets out of something like that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (9 Oct 2024)

John McGuinness: Is there sharing of policy ideas?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (9 Oct 2024)

John McGuinness: It is more than just a jolly.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (9 Oct 2024)

John McGuinness: We will leave it at that. I thank Mr. Makhlouf and his colleagues for coming along.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Engagement with the Central Bank of Ireland (9 Oct 2024)

John McGuinness: Hold on one second. Let me be clear about this; I know the Central Bank cannot deal with an individual case.

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