Results 10,401-10,420 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Eoghan Murphy: Okay. Would it be usual practice for you or your Department to act against the advice of the Financial Regulator?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Eoghan Murphy: Okay. Would you often act against the advice of the Revenue Commissioner?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Eoghan Murphy: Okay. Because, in 2006, the Revenue Commissioners wanted to introduce stamp duty for contracts for difference, and you were lobbied again quite extensively to not introduce that stamp duty tax, and you didn't.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Eoghan Murphy: In those two instances, do you think it was a mistake to have ignored the advice you were getting, both from the Financial Regulator and then from the Revenue Commissioners?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Eoghan Murphy: Okay. And just to clarify then, just based on what I think you just said. In most cases you would go with the advice, be it from the Financial Regulator or the Revenue Commissioners or whoever?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Eoghan Murphy: So these two cases would be exceptions?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Eoghan Murphy: But would these-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Eoghan Murphy: So these would stand as exceptions then, do you think?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Eoghan Murphy: Thank you. In your opening statement you reference a number of the reports that your Government commissioned into what happened, both in the Department and in the regulator and in the banking system. And, I just want to put a couple of the findings to you because you mentioned some, but you don't mention all, so I wanted to ... just to get an idea of which ones you do agree with. The...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Eoghan Murphy: Okay. But do you accept that those two processes, programme for Government, social partnership process, dominated or completely overwhelmed the budget process? And by that, I suppose, we can imply that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Eoghan Murphy: In paragraph 82 of your opening statement you said that you believed there would a softer landing for the economy if the unprecedented global financial collapse had not happened. But you say, "but the overvaluation of properties and related vulnerabilities within [the] banks put Ireland in a weaker position when we had to face the global crisis". Did any Government policies on the budgetary...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Eoghan Murphy: Okay. Do you accept the finding of the Nyberg report, on page 4, where it says, "As demonstrated by the previous scoping reports, although clearly affected by external conditions as set out above, the Irish crisis was in all essential aspects home-grown"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Eoghan Murphy: He doesn't say it's irrelevant. I think he talks about it being an influence in terms of timing, but ... a trigger, thank you, I think is the word he uses. But the Irish crisis was in all essential aspects home grown.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Eoghan Murphy: The trigger of the crisis that was, in all essential aspects, home grown. This is the finding of the commission of investigation.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Eoghan Murphy: Okay. Sorry, we're ... not just banking, as difficult as the banks-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Eoghan Murphy: Fiscal ... fiscal decisions as well.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Eoghan Murphy: Mr. Nyberg.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Eoghan Murphy: Mr. Nyberg, after conducting a commission of investigation, I'm mean, let's be fair to the person, he put a lot of work into it.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Eoghan Murphy: Now, because there was four points on this, and I think it's important that we establish on the record, again, the findings. Paragraph 75 of your opening statement, you agree with the conclusions of Regling and Watson regarding the banking system, but do you also agree with the report's conclusions regarding fiscal policy? The conclusion of this is on page 25 of their report, "The...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Jul 2015)
Eoghan Murphy: Okay, but the essential points-----