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Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Joe Higgins: Mr. McCreevy, even after the Ansbacher and the DIRT controversies, penalties for banks and their senior management were minor and difficult to enforce. Do you ever remember discussing this with the Central Bank Governor or measures that might be taken to increase penalties to stop-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Joe Higgins: And, Mr. McCreevy-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Joe Higgins: Second last question on a different theme.

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Joe Higgins: Right, okay, I'll do that. First then, that ... contributors to the Wright report, which you're familiar with, indicate that there was a lack of leadership and direction in the Department of Finance during 2000-2010. Do you agree with the comments that were made in the Wright report, and what was done, or what should have been done, in your view, looking back in relation to that? And the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Joe Higgins: Okay. Just one last thing then, Mr. McCreevy, is this. You regard yourself, I think it's true to say, as a champion of the swashbuckling capitalist markets.

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Joe Higgins: Okay, well a champion-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Joe Higgins: Yes, you would portray yourself definitely as a champion of the free capitalist markets, right?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Joe Higgins: Now, Mr. McCreevy, in view of what happened in Ireland, with those markets delivering this massive bubble and horrific crash, with all the awful austerity and suffering for ordinary people and, internationally, the toxic debts that also inflicted devastation on communities around the world, do you still believe in those markets and the way they operate?

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Joe Higgins: Corporation tax.

Order of Business (30 Jun 2015)

Joe Higgins: What the Taoiseach and the Government are proposing here is a gross abuse of parliamentary procedure. They are attempting to introduce substantial measures, for example, on motor taxation, on waste management and on water charges and related issues but instead of having separate Bills for each issue, with a proper Second Stage for each, they are attempting to roll the whole lot together in...

Order of Business (30 Jun 2015)

Joe Higgins: I will not have that debate, but it is true that the Government did not have the neck to give landlords the power to take the water charges from people's deposits because it was afraid to do so. It did not have the neck to give the power to employers or Revenue to take them from people's wages or social welfare and Revenue is not involved. However, it is still trying to produce some...

Order of Business (30 Jun 2015)

Joe Higgins: It is not permissible that the Government can ram through the Second Stage of three major procedures in one hour tomorrow morning. Therefore, anybody who has any respect for parliamentary democracy and for an airing of these issues, which would educate Government Members and backbenchers, in particular, on the serious issues involved, should vote against the Government on this issue.

Order of Business (30 Jun 2015)

Joe Higgins: The Standing Order provides for no less than 60 minutes.

Ceisteanna - Questions (Resumed): Taoiseach's Meetings and Engagements (30 Jun 2015)

Joe Higgins: 9. To ask the Taoiseach if he will report on his meeting with Atheist Ireland. [12748/15]

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Joe Higgins: Governor, when you came to be ... to the Central Bank in the autumn of 2009, and contrast then with today, 2015, what is your opinion of the Central Bank's detailed knowledge of the banking institutions now, by contrast with then?

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Joe Higgins: So that ignorance, which was given in evidence here in relation to concentration of lending in special sectors, etc., all that is a thing of the past?

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Joe Higgins: If I go to your core document, Vol. 1, page 60, and this relates to a summary in the Department of Finance of the Bacon report regarding what became NAMA and we take the second last paragraph on page 60, "Also an Asset Management Agency ... would offer prospects for avoiding many of the shortcomings associated with a continuation of the existing bank[ing]-property developer relationships....

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Joe Higgins: That pejorative term, was it deserved?

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Joe Higgins: Thank you, Governor. You told Deputy Doherty, if I understood you correctly, that the banks may have been overcapitalised by I think you use a figure of €9 billion and then you made reference to €5 billion of that perhaps being against mortgage arrears, etc. But should that imply two things: one, that the banks should be more forthcoming with writing down unsustainable...

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Joe Higgins: Okay.

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