Results 9,781-9,800 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: Okay, that's grand. How would, again, a legal firm - or Arthur Cox in this instance - manage a conflict of interest in circumstances where ... no, that's actually not relevant, so I'll move on. How much of your income as a firm was derived from the banking sector?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: Okay. As a percentage-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: -----as opposed to the amount, I mean?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: Was the firm, Arthur Cox, qualified to advise on the guarantee?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: I understand. In the issues that you were asked to consider, and you talked specifically about the nationalisation legislation and then a specialised lending scheme, I think you referred to it as, did Arthur Cox have the necessary expertise to advise on these or did you yourselves interline or source any external other legal firm from other sovereigns, perhaps, who have dealt with that issue...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: Were ye ever retained to - and again I don't know if this is appropriate, you can tell me if it's not - to advise other sovereigns on nationalisation of banks or similar schemes?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: Okay. Very finally, did you take any contemporaneous notes of the meetings held on the night of the bank guarantee?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: No, absolutely-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: That's very good. Thank you, Chairman.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: Apologies.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)
Marc MacSharry: Nothing further Chair.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: Thanks very much. And thanks very much, Mr. McCarthy, and sorry to have you here so late. Can I ask you, in the lead-up to the decision on the guarantee did you consult with any parties outside your Department such as the Central Bank, the NTMA, members of the IFSC clearing house, on the options that might be available to Government?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: In terms of Mr. Trichet, did Minister Lenihan advise you of any telephone conversations he ever had with Mr. Trichet, in particular regarding the burning of bondholders or burden-sharing? And, if so, can you advise on the contents of any discussions around that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: Well ... anything that you might think is pertinent, but certainly that.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: We might talk about the bailout period later but in terms of the guarantee itself, is it your understanding that there were clear communications perhaps, rather than phone calls as you've said? And did they always manifest themselves through the Governor? And thirdly, when the Governor spoke about such issues was it always understood to be the case that if the Governor spoke this was...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: Kevin Cardiff, in his witness statement, said that the National Recovery Plan 2011-2014 was finalised in time to be the main influence on major parts of the programme of assistance, and that the troika partners were happy to accept the four-year plan that had been developed in Ireland and to build on it. Can you elaborate on the substantive differences, if any, between the troika's position...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: In your statement, you said that the European Commission and the ECB, excuse me, favoured a front-loading of adjustment within an overall adjustment of at least €15 billion by 2014. Were they specific ... to where, you know, on the fiscal plan - you said the fiscal plan was the difference, rather, that didn't include the banking side - and were they specific on where there needed to...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: Just ... when you said there that the text of the plan wasn't shared with the international institutions, who was it shared with, if it wasn't shared with them? Was that not-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: So as yourselves, in conjunction with the line Ministers, prepared a plan independently, you weren't liaising with anybody of the three institutions who ultimately were the troika, is that the case?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: Okay, so just to summarise it - you correct me now if I'm wrong, because I don't want in any way to be seen as being judgmental - you were, kind of, making suggestions through the back channels, that, you know, "Would this work or would that work?", and they were giving their reaction to that. Is that-----