Results 19,481-19,500 of 27,945 for speaker:Michael McGrath

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

Michael McGrath: Part of our remit is to look forward and make recommendations. Where do we stand today in terms of the availability of high quality office accommodation, where there is a demand for such, in Dublin and other cities, and in terms of our competitive position when it comes, for instance, to rent per square foot?

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

Michael McGrath: What is the current price per square foot?

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

Michael McGrath: Are we facing a serious risk of Ireland losing out on certain investments because of the lack of affordable office accommodation?

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

Michael McGrath: Has Mr. Moran done a lot of work for the private equity funds which have been investing so much in Ireland in recent years?

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

Michael McGrath: Has he any view on the consequences for Ireland of, for example, the National Asset Management Agency selling 90% of its commercial property to private equity firms? We are looking at a different landscape in terms of the ownership of very important commercial property in Dublin and around the country. What impact might this huge shift in the ownership dynamic have in a context where the...

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

Michael McGrath: However, is it long term-investment?

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

Michael McGrath: I welcome Ms Hunt and thank her for participating in the inquiry. She has spoken quite a bit about having accurate data and the amount of effort that she and others put into compiling data based on the sources they have. Does she think that having a national commercial property price register similar to the residential one that we have would be beneficial?

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

Michael McGrath: What would the benefits be of having such a centralised register of commercial property prices?

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

Michael McGrath: Apart from saving Ms Hunt a lot of work.

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

Michael McGrath: So a reliable credible source of information is needed?

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

Michael McGrath: On page 8 of Ms Hunt's opening remarks, she said, "In general, Government intervention in the property market was largely done in the absence of any engagement whatsoever with the property industry." Has that changed?

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

Michael McGrath: From any body such as that-----

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

Michael McGrath: -----or any organisation?

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

Michael McGrath: Ms Hunt has also said that she and many others would have relied on the assertions of the authorities in terms of the health of the banking system. For example, she said, "we believed that the Irish banks were well funded and appropriately regulated and that borrowers were being sufficiently stress-tested". Is that just a broad assumption that was made by perhaps Ms Hunt and many others at...

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

Michael McGrath: Did the nature of lending to the commercial real estate sector during the boom years, and the emergence of non-recourse lending, which limited the risk of the borrower to the underlying security of the property itself, and then perhaps subsequently personal guarantees coming to the fore, fuel the demand for more credit, if it was being offered on those terms that no additional security was...

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

Michael McGrath: I asked Mr. Moran from Jones Lang LaSalle earlier on about the current state of the market in terms of commercial real estate in particular from the perspective of the availability of quality office accommodation in the areas where demand exists and I think it is fair to say that he painted a pretty sobering picture. I would be interested in Ms Hunt's observations, as a major player in...

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

Michael McGrath: I am okay with that.

Residential Mortgage Interest Rates: Motion (Resumed) [Private Members] (1 Apr 2015)

Michael McGrath: I thank all the Deputies who contributed to this debate. Listening to all the Deputies, including from the Government side, I am not sure anyone spoke against the motion. Perhaps it will be passed unanimously in a few moments. None the less, the important thing is that the issue be dealt with comprehensively. The bottom line is that tabling the motion and the debate on it have resulted in...

Residential Mortgage Interest Rates: Motion (Resumed) [Private Members] (1 Apr 2015)

Michael McGrath: It is to be hoped the Minister will deliver a very clear and strong message. Everyone in this House stands behind him in delivering that message. If he does not want to deliver it in a forthright and strong manner in public, which I understand, I expect him to do it in private. He should not be afraid to bang the table and deliver the message on behalf of the people and their...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Setanta Insurance Liquidation: Discussion (1 Apr 2015)

Michael McGrath: I welcome all the witnesses and thank them for their time and for their opening statements. It certainly is a complex issue. It is something of a mess at the moment and there is obviously quite a legal wrangle going on which is going to have an impact in terms of the liquidation and the way that claimants will be dealt with as part of this process. First, I will go through some of the...