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Committee of Inquiry into the Banking Crisis: Context Phase (11 Mar 2015)

Marc MacSharry: Are there examples throughout the world where, following a general election, alternates are run with candidates and when parliament elects the government that the government of the day steps outside parliament and is replaced by alternates, thus having to sell their policy to the parliament, even their former party colleagues, so to speak? Are there examples of that and, if so, can Professor...

Committee of Inquiry into the Banking Crisis: Context Phase (11 Mar 2015)

Marc MacSharry: Alternates, is that how that works? Is it that alternates run in parallel?

Committee of Inquiry into the Banking Crisis: Context Phase (11 Mar 2015)

Marc MacSharry: Does that help to improve the situation?

Committee of Inquiry into the Banking Crisis: Context Phase (11 Mar 2015)

Marc MacSharry: Following on form Deputy Eoghan Murphy's questions, in those circumstances would there be a relaxed Whip situation?

Committee of Inquiry into the Banking Crisis: Context Phase (11 Mar 2015)

Marc MacSharry: In his paper, "External Shocks, Leadership Replacement and Party Change - The Case of Fianna Fáil", Professor Farrell was very critical of PR-STV as a method of election. He said: "PR-STV reflects the diktats of the Irish political culture." Why, in his opening statement, did Professor Farrell make no reference to that? Will he comment on what the better system may be?

Committee of Inquiry into the Banking Crisis: Context Phase (11 Mar 2015)

Marc MacSharry: That is what it was called. To clarify for the Chair, I will consult my notes. There may be some additional note. It may have related to Fianna Fáil. It was titled: "External Shocks, Leadership Replacement and Party Change - The Case of Fianna Fáil". Does that ring a bell?

Committee of Inquiry into the Banking Crisis: Context Phase (11 Mar 2015)

Marc MacSharry: That is fine. It does exist so-----

Committee of Inquiry into the Banking Crisis: Context Phase (11 Mar 2015)

Marc MacSharry: Does the ambulance chasing become more elitist?

Committee of Inquiry into the Banking Crisis: Context Phase (11 Mar 2015)

Marc MacSharry: Does it change the lane of the ambulance so that only certain people get into it?

Committee of Inquiry into the Banking Crisis: Context Phase (11 Mar 2015)

Marc MacSharry: As I am running out of time, I have a final question which is in two parts. Has the stripping of power from local authority members in the past decade to 15 years contributed to a lack of focus by parliamentary members on important national matters, such as preventing crises, or the bank crisis or has it been a good thing? Considering - I am quoting Professor Farrell's own testimony - "the...

Committee of Inquiry into the Banking Crisis: Context Phase (11 Mar 2015)

Marc MacSharry: It focuses the national body of politicians more on the local situation than on the national situation.

Committee of Inquiry into the Banking Crisis: Context Phase (11 Mar 2015)

Marc MacSharry: I thank Professor Farrell.

Committee of Inquiry into the Banking Crisis: Context Phase (11 Mar 2015)

Marc MacSharry: Perhaps even a moment of clarity.

Committee of Inquiry into the Banking Crisis: Context Phase (11 Mar 2015)

Marc MacSharry: I thank Professor Hardiman for coming. On pages 3 and 4 of her presentation she refers to the close relationships which developed between "banks, builders, developers and political leaders." There is also a reference to Ireland's poor ranking in the global competitiveness index of the World Economic Forum in 2014. Among the poorest ratings for Ireland was "favouritism in decisions of...

Committee of Inquiry into the Banking Crisis: Context Phase (11 Mar 2015)

Marc MacSharry: Does Professor Hardiman know what metrics the forum uses to measure such things? On what are such statements based?

Committee of Inquiry into the Banking Crisis: Context Phase (11 Mar 2015)

Marc MacSharry: That would be useful. It would be interesting to get an insight into it. Does Professor Hardiman have any specific comment to make on the relationship between the regulator and the banks? Is there an economic forum that can focus on this?

Committee of Inquiry into the Banking Crisis: Context Phase (11 Mar 2015)

Marc MacSharry: What are the metrics we can use? What prevents regulator A and banker B from being pitched against each other in the winter league at the golf club, for example?

Committee of Inquiry into the Banking Crisis: Context Phase (11 Mar 2015)

Marc MacSharry: Would Professor Hardiman describe these norms, ethics or practices as very low, acceptable or high?

Committee of Inquiry into the Banking Crisis: Context Phase (11 Mar 2015)

Marc MacSharry: Other than Professor Hardiman's own experience.

Committee of Inquiry into the Banking Crisis: Context Phase (11 Mar 2015)

Marc MacSharry: Should there be criteria or codes of conduct for determining how social interaction should be handled between politicians, civil servants, bankers, regulators and so forth?

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