Results 1,101-1,120 of 4,414 for speaker:Sean Barrett
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Sean Barrett: In the list of mortgage misdemeanours, you didn't name the individual banks. Doesn't that contrast with the UK, where a man was deprived of his knighthood and the fines were imposed on named banks? Is this light-touch regulation?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Sean Barrett: The Chairman reserves the right to ask that question.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Sean Barrett: When you were announcing your retirement, you seemed to express the view that the next Governor should not be a person like you which ... could you describe the ideal next Governor? What you had in mind when you said in that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Sean Barrett: Did you imply an administrator rather than an academic as the next Governor?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)
Sean Barrett: Hear, hear.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Sean Barrett: Outside your 20, how many other economists are there in the Department of Finance?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Sean Barrett: The ones that moved across to public administration, public expenditure and reform, how many are there roughly? I know it's not your Department but-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Sean Barrett: Thank you for that. Some of the literature says that those specialists should move on after three years. I take it that what you're doing is integrated fully into those departments and there wouldn't be a suggestion that specialists should depart the scene.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Sean Barrett: Very good. Now 2003, did the interaction between the Government's economic analysis function with the economic research section of the Central Bank because of the restructuring and the creation of the Irish Financial Services Regulatory Authority, did that change or was there a change in emphasis when the Financial Regulator was established in 2003?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Sean Barrett: In your own core documents, on Vol. 1, page 38, what Nyberg says on that arrangement, Mr. McCarthy, is, "Had the DoF [Department of Finance] taken a greater interest in financial market issues early on, preparations for dealing with the financial crisis would have been more comprehensive." So, in retrospect, was that a flaw in the way we organised the relationship between the Department of...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Sean Barrett: Wouldn't the two overlap, though, if you saw credit expanding at 25% a year? You know, that must have implications for the macroeconomic state of the country, so you couldn't have remained immune from such a heavy increase, year after year, in the amount of credit that the banks were extending.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Sean Barrett: I see. And you mentioned Professor FitzGerald earlier. He said to us that there was a cultural change in the Department of Finance in the last decade, that they became more concerned about the politics of things and less interested in technical detail and he, in the ESRI, and yourselves had had less interaction. Did you have any response to what John FitzGerald was saying in that very chair?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Sean Barrett: And when we look at-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Sean Barrett: Indeed.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Sean Barrett: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Sean Barrett: When we look at Vol. 3 in the core papers, around pages 17 and 20, there's quite a lot of the same kind of factor that you refer to there, Mr. McCarthy, in relation to taking chunks out of IMF reports in Ireland. And particular, on page 17, their discussion of a deposit insurance scheme and, you know, a warning on page 12 that it would be: [I]mportant to be prepared for the worst. In this...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Sean Barrett: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Sean Barrett: Was the definition of competitiveness used when we were talking about competitiveness, too restricted? It seemed to be just the consumer price index and wage claims. Was the property influence on competitiveness, if you take that Deputy Higgins has repeatedly drawn attention here as you know, that the fact that house prices are rising by more than the average annual income in every year, so...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Sean Barrett: Thank you. No, it's just houses going from 2.5 to up to ten times income and being paid for over 40 years instead of 25 years, that must have affected the competitiveness of the Irish economy. And I think in general, the literature - not just yours - didn't acknowledge that until after the event.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)
Sean Barrett: Yes.