Results 9,321-9,340 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: To get it through, that's ... I understand that from a state aid perspective and that would be the Commission but was there any view that apart from the state aid aspect, that ... was there any ... "God, you know, the ECB won't wear that" or, you know, a suggestion that maybe the ECB had particular expectations and particular views about how these ... about the outcome of what was going on in...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Okay. You said to Deputy McGrath earlier on that there was no examination ... that it wouldn't typically be expected of auditors or it wouldn't be kind of best practice to go into the kind of cross-collateralisation of individual loans and to assess that, for example, the equity that you thought that was there and now it wasn't there because, you know, that just isn't the done thing in terms...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: No, but it ... just ... I think that maybe you should, and I think the Chairman alluded to this, would you say that some of the recommendations to be considered by this inquiry should be that, look, really, you know, auditing is ... one of the lessons of this whole process is auditing of the focus of organisations like yourself that operate to the highest standards of the day need to change...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: And would you say that there's a need then in legislation to put an onus on financial institutions or individuals to declare such things in the future?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Okay. Thank you very much.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Thanks very much and thanks very much, Mr. Gray, for being here. Can I ask with regard to your letter of 25 September 2008 to Mr. Cardiff about the strategic options, what information was available to you relating to the liquidity or solvency of the Irish financial institutions prior to providing the advice to the Taoiseach?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: And do you believe that the level of management information available to the Central Bank and regulator was sufficiently robust to appropriately inform some of the most significant decisions ever made in the history of the State?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: What could have been done better at that time? I mean, you mentioned that liquidity and solvency was purely ... the difference was purely a matter of valuation on a given time. So, what is your view on what ought to have been done better in assessing the solvency at that time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: But given the time available, presumably, was this possible do you feel?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Yes, okay, just back to Druids Glen briefly. When you were going to the house for the private meeting, were you aware that there was onwards then to Druids Glen for dinner? Was that always part of the plan or?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Okay, so golf intervened and you continued the discussion afterwards and you went elsewhere. You didn't play golf so you linked back up with them later on. Isn't that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: So, you came back after the golf for that and for all the world, the meeting stopped at the house and it resumed at the public forum in the restaurant in Druids Glen.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: And the golfers could have talked about football, banking or God knows what for the 18 holes or nine holes or six holes or whatever. Would that be fair?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Absolutely. We don't know in other words. So they didn't say to you, "Well, look we're going to consider this over our golf and we'll talk to you later on." There was none of that.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Okay. Do you feel that, considering the credentials of everybody involved, notwithstanding your own view on it and what you've said, that somebody considering the attendees at this event might find it somewhat hard to believe that banking wasn't discussed? Would you think that's outlandish or do you think it's reasonable?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Absolutely, and you've been clear on that and we've ... you've given your word on that and so on. But, again, in your experience of life, not least economics, could you appreciate that that's a point of view that somebody could quite reasonably have, looking in?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Indeed, and then there's the concept of the balance of probability. You'll be familiar with that, I'm sure.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)
Marc MacSharry: Yes. So just two very final questions, Chairman. And it's back to your time on the Central Bank. Would you've be familiar with Tom O'Connell as chief economist in the Central Bank?