Results 18,301-18,320 of 27,945 for speaker:Michael McGrath
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael McGrath: Did you bring that-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael McGrath: Did you bring that link to anyone's attention?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael McGrath: But did you spell it out?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael McGrath: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael McGrath: You said that you wrote the editorial of the quarterly economic bulletin, is that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael McGrath: Is that the part at the very beginning of the quarterly economic bulletin, under "Comment"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael McGrath: And would have written those editorials throughout 2007, for example?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael McGrath: Okay. So can you just square for us what you had been saying all day today, and what you have said to me just now, with an extract for example, from the quarter 4 2007 economic bulletin, where you talk about property and prices, you said "Developments in residential output and property prices this year indicate a move towards a more sustainable position." There's no hint there of an...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael McGrath: -----that the construction sector is about to collapse ... that there's going to be a collapse in asset values, which you say was inevitable, going back for six years prior to that, and you wrote this.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael McGrath: But, Mr. O'Connell, that's in marked contrast with the absolute certainty that you have described today as regards your views on asset values, the inevitably of a crash ... there's no sense whatsoever from reading that bulletin, and I haven't read the other bulletins, as to what you predicted. So you're saying that on the one hand, you could hardly have a coffee break without issuing a stark...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael McGrath: Can I clear up two other matters very quickly? One is this inference that you make on page 2 of your witness statement that the need to consider the issues of rezoning more land to increase housing supply was blocked from reaching a higher level in the bank in light, in your view, of political and property interests of the bank's board. The political side I think we can understand to mean...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael McGrath: But you referred to property interests and the implication being somebody had a direct vested interest in property?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael McGrath: That's not what you're saying, okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael McGrath: Okay. And very finally, Chair, you refer, Mr. O'Connell, on page 4 of your witness statement that around 2002, 2003, a memo from the economics function in the bank sent to the then Governor essentially recommending that lending to the property sector needed to be reined in, and you refer to a memo coming back, and you said you have a copy of that memo where there's a note added that it's out...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael McGrath: Okay, can we get that for-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)
Michael McGrath: Thank you.
- Draft Commission of Investigation (Certain matters concerning transactions entered into by IBRC) Order 2015: Motion (9 Jun 2015)
Michael McGrath: I move amendment No. 3:To insert the following after "Dáil Éireann on 9 June 2015":"Calls on the Government to amend the terms of reference for the Commission of Investigation into IBRC, as follows:- The Commission of Inquiry will also examine governance within IBRC. - The Taoiseach would request an interim report to be provided in October."I welcome the opportunity to respond to...
- Fiscal Responsibility (Amendment) Bill 2015: First Stage (9 Jun 2015)
Michael McGrath: I move: "That the Bill be taken in Private Members' time."
- Central Bank (Variable Rate Mortgages) Bill 2015: First Stage (9 Jun 2015)
Michael McGrath: I move:That leave be granted to introduce a Bill entitled an Act to provide for measures to address market failures in the market for principal dwelling house mortgage loans, and to provide for related matters.I propose this Bill in response to a situation in which the Irish mortgage market is simply not working for standard variable rate customers. Over 300,000 households are currently...
- Central Bank (Variable Rate Mortgages) Bill 2015: First Stage (9 Jun 2015)
Michael McGrath: I move: "That the Bill be taken in Private Members' time."