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Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Joe Higgins: Is the reality, Mr. McDonagh, that the vast majority of the 772 will never pay back the full amount-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Joe Higgins: That is the reality, okay. Mr. McDonagh you made a comment in another document you may recognise perhaps that these loses that developers made, if I get it right, that in the future they might be able to use those for tax concessions down the line, are you familiar with that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Joe Higgins: So the losses they made they'll be able to get tax breaks in the future if they continue, say as developers against those losses?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Joe Higgins: Equally when they go out of your ambit they're still -----

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Joe Higgins: It is the case I believe that you continue to pay salaries to some of these developers ... and because my time is up can I finish by asking you, considering all this - the huge write downs, future tax breaks, very significant salaries I understand for some of these developers that are on your books. Would the hard-pressed taxpayer out there and the victims of the austerity that resulted from...

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Joe Higgins: Mr. Daly, you put forward some points as to what you ... what a sustainable model might look like in regard to property and financing and development, going into the future, based on your experience. Can I ask you in that regard, is it ironic or not that, currently, I mean by common consent, speculation and profiteering in land caused a massive bubble which caused a disastrous crash which...

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Joe Higgins: Okay. It's a French expression, Chairman.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Joe Higgins: Plus ça change, plus ça reste encore. The more things-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Joe Higgins: It's a cynical-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Joe Higgins: -----proposition that, the more things change, the more they remain the same.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Joe Higgins: Okay. I'm sure you knew that already.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Joe Higgins: But Mr. Daly-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Joe Higgins: We have to be very serious. I mean, would your sustainable model not outlaw, or not, speculation and profiteering in building land and the implementation of something like the Judge Kenny report of 1974, which you may be familiar with, which recommended control of speculation in building land?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Joe Higgins: Data.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Joe Higgins: Finally, Mr. McDonagh to yourself, you are a veteran of the National Treasury Management Agency, so you have seen over a long period, if you like, how pitiless the financial markets are in the way they operate, these major banks and what they've done to people. In terms of a sustainable model going into the future, would you see any merit in a publicly-owned banking system devoted to the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Joe Higgins: A new ethos.

Ceisteanna - Questions (Resumed): Commissions of Investigation (21 Apr 2015)

Joe Higgins: 5. To ask the Taoiseach when his Department expects the final report of the Fennelly commission; and if he will make a statement on the matter. [12747/15]

Written Answers — Department of Foreign Affairs and Trade: Irish Prisoners Abroad (21 Apr 2015)

Joe Higgins: 217. To ask the Minister for Foreign Affairs and Trade if he requested the European Council at its meeting in December 2014 to make representations to the Egyptian Government for the release of an Irish citizen (details supplied) who has been designated a prisoner of conscience by Amnesty International. [15231/15]

Written Answers — Department of Arts, Heritage and the Gaeltacht: Forbairt na nOileán (15 Apr 2015)

Joe Higgins: 916. To ask the Minister for Arts, Heritage and the Gaeltacht cad iad na pleananna atá aici don fhorbairt gheilleagrach agus chun poist a chruthú ar Chléire, Contae Chorcaí; agus an ndéanfaidh sí ráiteas ina thaobh. [14244/15]

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Joe Higgins: In Mr. Moran's opening statement, on page one, he says:In the period prior to 2008, the commercial real estate market grew strongly, with increasing levels of purchasing, leasing and construction activity. Ireland's economy was performing well, with GDP and employment growth driving the expansion. Quite a number of witnesses who came in here as well as various reports on the banking...

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