Results 9,961-9,980 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: And would you, for-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: Would it have been the case that you would say, you know, "Can we apply more tax to X or more tax to Y?", and they'd approve or dissent on that or what way did that work?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: Sorry, go on.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: So, before you committed to a programme, before 21 November, and you had drawn up this kind of basis €15 billion or whatever, in terms of ... what was that made up of in terms of the specific measures? Was that independently drawn up or was it ... in any way or, indeed, was it heavily influenced by external participants, such as the advice from the ECB and the Commission?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: What I'm trying to get to ... what I'm trying to get to at the end of the day here is was did we have plenipotentiary status in determining what measures we were going to introduce ourselves or was it prescribed for us by ... initially the ECB and the Commission and then later the IMF also when we committed to a programme?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: I get that ... and I don't want to be stopping you, I get that on the on the, you know ... I get the figures overall and €10 billion and €5 billion and you knew what was best in terms of year to year and I get that completely. But were you afraid to say, for example, "Okay, well we're going to have a prescription charge of €5 per item", or "We're going to introduce water...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: So yes, you had control or you had partial control, or no you didn't?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: I get that. Just to move on so, in terms of the National Treasury Management Agency, how did they react when you had suggested that ... or, the Department had suggested that money would be invested or lodged in the Irish banks?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: Did you agree with their view at the time, that we shouldn't burn bondholders because it would upset the markets, when we were still in the markets?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: When we were discussing things with Mr. Cardiff, we had asked him about this issue and he had suggested that at IMF local level there was a ... and you said it yourself, they were sympathetic to burning bondholders. And in questioning he said right up to what was described on the day as "Strauss-Kahn level" there was an expectation that this was going to be okay. Was that your understanding...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: Then we have the G8 and is it your contention that it's put to their ... you described it as the main contributors to the IMF, that it was put to them and ultimately that's where the veto arose, is that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: And back to the €19 billion and the profile of those holders, notwithstanding the pension funds and ... the pension funds and credit unions. Can you, to the extent possible or to the extent legal permit us, give us a percentage breakdown of what nationalities at what amounts relative to them, and then I've one question to finish after that, if that's okay?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: But after ... I mean, when you had the programme, surely you were funded, so the same impact wasn't going to be there.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: Finally, and thanks, you'll have seen the testimony I'm sure of Mr. Trichet at the event here in Dublin. Can you give us your view - because Professor Honohan has speculated in his evidence as to whether this view was a valid one or would bear out - that ELA would be withdrawn from the country ... following the letter saying ... threatening that it would, unless we entered a programme? In...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: Thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: Thanks, Mr. Cowen, and just two final questions before we conclude these long two days. Can I ask you just to revisit an area that we spoke of earlier on, in terms of the briefing that was going on, which was unhelpful, and could have served us better, in your view, if people had held off for a week or two rather than giving views on other countries? Do you feel the ECB were responsible for...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: Were there any obvious parties to gain outside of Ireland, or Irish interests, from the briefing that was going on, by whomever, in a European context?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)
Marc MacSharry: Finally, can I ask that, in the preamble to the establishment of this inquiry, for which all of us are focused on getting the correct answers in the public interest, in a debate in Dáil Éireann on 25 June 2013, it was said that in seeking to establish, "the truth and to remember the thousands of victims of the axis of collusion between Anglo, Fianna Fáil, and bankers", the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Marc MacSharry: Thanks very much and thanks, Mr. Cowen - welcome. In early 2004, the White Paper, "Regulating Better" set out core principles of good regulation and a programme of actions to give effect to these was drafted and published by the Government. In December 2006, you announced a proposal for moderation ... sorry, modernisation of the legislative regulatory framework. An advisory group was set...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Marc MacSharry: Was there an over-dependency on advisory ... I mean ... or was there hands-on input from the Cabinet of the day to say, "Look, we need this, we need that"?