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Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Joe Higgins: Okay. And the very, very last thing, because I really have to ask you this: on page 4 and 5 of your written presentation to us-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Joe Higgins: The last paragraph, 5.11.

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Joe Higgins: The Financial ... the very last paragraph, the Financial Regulator "in fact identified the credit union movement as the most significant prudential risk to financial stability during the relevant period". And, in the next paragraph: This generated a major programme of work for my unit during the relevant period. In practice it focused my area’s attention on credit union risks to...

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Joe Higgins: That ... that ... that ... hang on, developers are walking into banks, walking out with billions in loans. Banks are bloating their lending-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Joe Higgins: -----but all the consequences-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Joe Higgins: No, I ... I ... and-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Joe Higgins: -----and the Financial Regulator identifies credit unions as the main risk.

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Joe Higgins: Thank you, Mr. Beausang.

Employment Equality (Amendment) Bill 2015: Referral to Joint Committee (23 Jun 2015)

Joe Higgins: Tairgim:Go ndéanfar Ordú an 17 Meitheamh 2015, ón Dáil, lena ndearnadh an Bille um Chomhionannas Fostaíochta (Leasú) 2015 a tharchur chuig an Roghchoiste um Poist, Fiontair agus Nuálaíocht, a urscaoileadh agus go dtarchuirfear an Bille chuig an Roghchoiste um Dhlí agus Ceart, Cosaint agus Comhionannas de bhun Bhuan-Orduithe 82A(3)(a) agus 118 de na...

Ceisteanna - Questions (Resumed): World Economic Forum (23 Jun 2015)

Joe Higgins: 6. To ask the Taoiseach if he will report on meetings he held with business leaders at the World Economic Forum in Davos in Switzerland in January 2015. [5468/15]

Ceisteanna - Questions (Resumed): World Economic Forum (23 Jun 2015)

Joe Higgins: 7. To ask the Taoiseach if he will report on meetings he held with political leaders at the World Economic Forum in Davos in Switzerland in January 2015. [5469/15]

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: Mr. Cardiff, could you tell us very briefly just to begin, what level of preparation you were able to manage for this hearing and in particular, what if any level of consultation you had with other senior, former senior colleagues in finance or in the Department of Finance itself currently serving?

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: Sorry-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: I think it's exemplary that a witness would put a lot of time into preparation.

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: Yes, and a lot of my time is gone.

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: It was going for quite an amount of time before it was stopped, Chair.

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: Mr. Cardiff, no, may I say, it's not strange at all. But we are trying ... we have all kinds of senior officials, former officials, etc., ... we are ... simply an interest in if there was a level of co-ordination in the evidence. I don't say that that in any way undermines the evidence or something like that but-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: Okay, thanks, Mr. Cardiff. Mr. Cardiff, during your term as second secretary of the Department of Finance, and from your own knowledge, would you say that the Department was aware or to what extent it was aware of the risks to the overall economy from over-reliance on property sector lending by the banks and exposure by the banks to the construction sector? And the background for that...

Committee of Inquiry into the Banking Crisis: Nexus Phase (18 Jun 2015)

Joe Higgins: May I just ask you ... we've had evidence on all those factors but just to ask yourself, in relation to subsequently from what we've learned, were you surprised that the Financial Regulator hadn't delved much deeper in the bubble into exactly what was going on and, therefore, be more aware of the dangers that subsequently came to pass?

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