Results 10,101-10,120 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Marc MacSharry: But there is nothing say, throughout the period, to have told the bank, "Look, focus more on the consumer." It's just get your money as quick as you can and get on with it.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Marc MacSharry: Should they have had input in that regard?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Marc MacSharry: Yes it is.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Marc MacSharry: Could more be done by yourselves in the Central Bank in that regard, in terms of the design of tools and who is getting looked after and who isn't, to put it crudely?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Marc MacSharry: Okay. Just two other very last questions. Did the Minister share your opinion of the urgency of entering the programme?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Marc MacSharry: Did you feel he was battling other political entities either within his party or the Government to try and-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Marc MacSharry: Finally, during the period from when you took over, what was your sense of the performance of the Taoiseach and the Minister of Finance? For example, was it assured, confident, in control or did you have a sense that it was incoherent and disorganised? Indeed can I just put a second point to that; what was the impression of your colleagues in the ECB and around the meetings over there, of...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Marc MacSharry: Thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Marc MacSharry: Thanks. As early ... welcome. As early as 2001, a paper presented in the MAC meeting on 26 April shows that the Department was facing a specific skills challenge and had a broad spectrum of skills requirements, amongst others, in economic modelling. Can you give us your opinion if efforts made by the Department were insufficient after 2001 to further improve the skills level in there?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Marc MacSharry: Okay. Just following on from what Deputy Doherty had asked you there about you giving an example of a policy change as a result of advices coming from the economic division, can you give us an example - and perhaps the one the most relevant to our work here in the inquiry - of advices coming from your division being specifically suppressed and ignored by Government to the detriment of what...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Marc MacSharry: You are talking about 2006 here, are you?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Marc MacSharry: So where can we, these ... this is documented where? The-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Marc MacSharry: Yes ... no, no, we know that. So the economics ... what you are saying is that the economics division within the Department was saying since 2001, you know, "Cool the economy, go counter-cyclical on policy ... on fiscal policy." Is that your position?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Marc MacSharry: So you're ... so is it ... is what you're saying that those responsible for budgeting and economic analysis and policy within the Department were saying to cool the economy and introduce counter-cyclical policies from 2001 on and that Government of the days ignored that advice?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Marc MacSharry: All right. So just so we are clear now, you're saying that at the beginning of your process, which was earlier in the year, you would sign off and you would say "Look, we want you to go more counter-cyclical." Are you saying that the situation improved then, which allowed the Minister to take a pro-cyclical approach, or are you saying that your advice remained, so that these circumstances...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Marc MacSharry: Yes, just on a separate issues, but briefly. You mentioned earlier about people above your pay grade, is how you put it, would tell you, ''Take that out, don't say this, we can't say the other'', I think, were in or around what you were saying. In your ... in your time in the Department, was dissent discouraged to the point that it could hamper one's career progression in the Department?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Marc MacSharry: Thank you very much and welcome, Mr. Cardiff, again. Just two very quick questions at the beginning which arise; we had John McCarthy in earlier from the Department of Finance and while it goes back perhaps to the evidence of the other day, he told me in questioning that his Department were vocal and consistent in their recommendation for counter-cyclical policies throughout the period. He...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Marc MacSharry: He did mention that at different times people would be told, he described it as the pay level above his ... not to say certain things, to take certain things out. Would you have been aware of that and was this political interference or was it pragmatism by the officials who had this authority?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Marc MacSharry: To what extent, if ever, did the wish to say what the Minister wants, affect the integrity of the facts?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Marc MacSharry: I mean ... in an important speech, for example, like the budget or an important policy directional thing, I mean, what I'm trying to get at was there political interference to the extent that ... Let's talk - you said you were in tax - about the tax incentives. Would Ministers have said, "Mr. Cardiff, I am not doing that, we'll lose votes if we do that, we're not doing that." I mean, did it...