Results 10,281-10,300 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Marc MacSharry: Have you a view, while we have you here?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Marc MacSharry: You did mention that, in fairness, earlier on. But I suppose what I want to get at here-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Marc MacSharry: So in 2004 ... sorry, after 2004 and the IMF and the OECD and ECOFIN and various bodies were recommending tighter fiscal stance, and you spoke a little bit about that, would you have a view, in terms of your own opinion of the Central Bank's recommendations to the Minister that they weren't more forceful at that time, is there any view you'd like to give on that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Marc MacSharry: And yourself. you used to-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Marc MacSharry: You were a director of the ... you sat on the board of the Central Bank for the period that you were secretary?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Marc MacSharry: From the middle of 2006 on. And there were six members of that board that were also on the board of the regulator; isn't that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Marc MacSharry: And would you have been aware at all that in the period up to your tenure and the time that you would have finished up as director general ... as Secretary General that no action was ever taken by the regulator or the Central Bank following any prudential regulatory breach by a financial institution?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Marc MacSharry: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Marc MacSharry: When somebody's in breach ... somebody did make a breach, there was no action taken: you weren't aware of that - or were you?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Marc MacSharry: There were.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Marc MacSharry: Would it suffice to say that there were-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Marc MacSharry: -----and would it suffice also to say that it's a matter of evidence here that there was no action taken against any prudential regulatory breach? Does that surprise you, and why do you think you didn't know that if you were a director of the Central Bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Marc MacSharry: Did you know Tom O'Connell, the chief economist in the Central Bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Marc MacSharry: Did you ever liaise with him, or have an exchange with him about the economy, what needed to be done, what was being done, the state of affairs in banks, or any aspects of the economy?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Marc MacSharry: Did he ever when presenting papers, highlight his major concerns for the situation, from a banking regulatory perspective? Because he has given evidence to the committee, he had an extraordinary difficulty in getting his message across to board level.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Marc MacSharry: They had the floor, okay, good. Can I ask you about your relationship with Ministers of the day? Was it difficult to get your point across if, for example, a Minister had view A, and you had an alternative view, because you felt that the Minister's view was wrong? Did you find any of the line Ministers that you dealt with in finance particularly difficult in that regard, or were they very...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Marc MacSharry: Good, can I also ask and I asked your predecessor earlier on, in your period as secretary of the Department, did you feel that there was any sectoral interest that had the leg of Government or the ear of the Minister or the Taoiseach to the extent that it had an unhealthy influence on budgetary preparations, such as health was put forward as something that had a very significant input by your...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Marc MacSharry: Yes, we spoke previously to your predecessor and following on from some documentation which was a budget submission by the IAVI, I think, in that instance, and I asked, "Did this happen regularly?" He said he had checked. In fact, in the current year and there seem to have been 1,200 such representations made pre-budget and just in line with that, I was asking him, "Was there any unhealthy...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Marc MacSharry: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (17 Jun 2015)
Marc MacSharry: And if I could just ask you to confirm very finally and you did ... you did make reference to it in your opening statement. Do you recall any representations being made by politicians or sectoral interests for less expenditure or more taxation, during the period you were Secretary General?