Results 9,801-9,820 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: Sure, yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: And, again - sorry to make you repeat yourself now - you said earlier that the partnership was an issue that they did want to, kind of, visit. And did you say the minimum wage or what was the second one?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: Sorry.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: Was it a red line issue? Not for the Irish side now, I'm talking about the institutional side - the three institutions.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: Would you know was it the IMF or the Commission or the ECB that raised this issue? Or were they all three at one on this issue?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: And was it their position that the minimum wage should be reduced or increased?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: They were for reducing it then.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: Okay. And did they prescribe how much or do you know?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: Okay. Was there a discussion in the Department that may be we could do 50 cent or €1 or €2 or ... what way did that work? Do you know?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: Okay. Did you feel that the approach by the Commission to reduce the minimum wage was accepted by our side or the Government's side of the day as opposed to our side? Or was it something that was a bone of contention for the negotiators and ultimately the Minister?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: Any other issue? I think you mentioned two when you mentioned the minimum wage. Was there another issue that was ... that there was?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: Just explain to people that might be watching. Is that, for example, if electricians worked that they get so much an hour or bakers or ... and so on like that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: Okay. And were they prescribing in any way that these should be reduced or-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: Could be visited?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: Okay. Were there any other issues, just to move off this point then, that you felt through colleagues, I know that you weren't directly involved, were being prescribed in some way as "must be included" issues?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: So, would you agree then that ... would you agree with Mr. Cowen that there was flexibility on the side of the Irish Government as to how, to use my quote from earlier, "the bottom line" was arrived at?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: Were the ECB active in these negotiations ... this portion of the negotiations or were they more focused on the banking side of things?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: Okay. In Mr. Trichet's letter of 19 November 2010, he said and I quote, "If you don't do this, your banks will lose access to ECB and even national central bank support with disastrous consequences for your country." Do you have any insights, perhaps, from the Department of Foreign Affairs' colleagues or bank contacts on why this letter was sent, given that it would appear from evidence,...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: Just for the record, Chair, I have quoted verbatim from the committee document as opposed to ... I haven't paraphrased in any way. So if it's incorrect, it's incorrect here from me. So, then when we got the banking side of the bailout or of the agreement, was there ... whereas the Commission had been prescriptive only in part on two issues and suggested that you could usefully look at the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)
Marc MacSharry: Ann Nolan testified: " A number of lMF officials were strongly in favour of burning any unguaranteed and unsecured bonds in Anglo." Against that background, are you aware of any preparations for burden-sharing being made, even on a contingency basis, prior to entering negotiations with the troika?