Results 10,901-10,920 of 15,555 for speaker:Eoghan Murphy

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Eoghan Murphy: Well, looking at the 2007 report, house prices are beginning to fall but the 2007 stability report favours a soft-landing scenario over a hard landing. Why?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Eoghan Murphy: I'm hearing, Mr. O'Connell, analysis behind how you answered that question but Professor Honohan, in his report, stated that there was no analytical evidence provided in support of this key conclusion. That's on page 84 of his report. So how was it reached?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Eoghan Murphy: How do you then decide you would include this language?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Eoghan Murphy: Let me put this again, sorry. You say in your opening statement, talking about the financial stability reports, that the overall assessment in tone which reflected the views of the two boards tended to be reassuring and you imply that this was in contrast to the main body of the financial stability reports, which would you have drafted. So what are you saying there? Did that language come...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Eoghan Murphy: And did you object at the time?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Eoghan Murphy: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Eoghan Murphy: You mentioned in your opening statement that it was a question of tone and you've just said there ... there said editorial but Honohan also notes in his report, on page 83, in relation to the estimates of house price overvaluation said had appeared in financial stability reports ... results of models estimating overvaluation were presented in successive financial stability reports "up to and...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Eoghan Murphy: That's probably the research study then that was deleted from the 2007 financial stability report.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Eoghan Murphy: So who made the decision to delete it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Eoghan Murphy: Was it made at the board?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Eoghan Murphy: Below the board. A level above yours.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Eoghan Murphy: Okay. Someone you reported to?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Eoghan Murphy: Someone you reported to?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Eoghan Murphy: Okay. Why was that decision made?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Eoghan Murphy: Did you challenge it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Eoghan Murphy: So did you challenge its exclusion?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Eoghan Murphy: But could a soft-landing scenario still have been put forward in the 2007 stability report if the research had been included?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Eoghan Murphy: The people who did that research in 2007, a report and still concluded in favour of a soft landing over a hard landing.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Eoghan Murphy: On the language, because it was very important in the scheme of things because it had an impact on the public in terms of their awareness to the actual challenges the economy were facing. Soft landing was reassuring.

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

Eoghan Murphy: Are you agreeing with then the overall tone and assessment of the 2007 financial stability report?