Results 9,261-9,280 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: And just before I give you my very final question, can I ask you, can you identify the fundamental changes in policy that occurred in the change in Administration here in election 2011?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: -----or differences. So, and then, and ... on the 12 quarterly reviews, if there was a suggestion from a government that we wanted to adjust the process of getting to the bottom line, were governments free to do that? So were they free to generate revenue from X or Y or was that prescribed by yourselves?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: Finally then, can I ask were the social consequences of the bailout programme considered during the programme discussions and how were these consequences considered? And what was the nature of the discussion?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: Thank you very much.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: Thanks very much. Just a quick one, Mr. ... to start there. You said about how you would have preferred a longer consolidation period on the fiscal adjustment. You said that this was being pushed from the Government. Maybe we were too optimistic in that regard. Were the ECB and the EU Commission prescriptive in their ... in their view of the length of time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: By one year, isn't that right?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: Yes, okay. So can you give us an example of ... I know you've said already this is the worst case in history or certainly up there. Can you give us an example of where burden-sharing was implemented and it had a positive outcome?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: Okay. While you weren't ... while you didn't have any involvement in what I'm about to ask now, we are interested in your view. In providing the guarantee to the banks in 2008, did this action by the Irish Government serve to stabilise the eurozone at the time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: Okay. We spoke about ... and you said to ... in answering, I think, to Deputy Doherty that the Irish taxpayer had to shoulder a ... a disproportionate amount of the burden, I think were your exact words. With this in mind, and in your personal capacity and your experience, rather than as a former IMF employee, would you say it is fair and reasonable that the EU apply concessions to...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: And, of course, that option still exists, does it not?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: Thank you very much.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: Thanks very much and thank you, Mr. Buti, for being here again today. Programme monitoring and warning controls are now being undertaken by Government agencies to reduce the risk of returning to a programme. What, in your opinion is the greatest risk that you see to Ireland having to return to a programme of assistance?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: So, what's the risk?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: You said, in the opening statement: I very much concur with the conclusions drawn by most witnesses that appeared before [the] committee. The post-2007 economic and financial crisis in Ireland was domestically generated. Its roots were not only in the banking sector, but also in pre-crisis fiscal policy making. You said, in your opening statement, that you believe that Ireland's crisis...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: You don't agree with the statement.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: Okay. So would you say it's ... that the single currency's design was flawless and did not contribute to the crisis?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Sep 2015)
Marc MacSharry: No, no. I didn't do that.