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Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Kieran O'Donnell: Is there a strong possibility that Permanent TSB may not stand alone?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Kieran O'Donnell: On SME lending, and conscious of my time, has Mr. Moran interacted with Professor Morgan Kelly? The issue is of great interest to the public.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Kieran O'Donnell: On European bank recapitalisation, in the announcement in July 2013, Europe basically agreed to consider countries on a case-by-case basis. Ireland, particularly its taxpayers, carried bricks on its back during the European banking crisis. Is this issue live and how will it progress? What is Mr. Moran’s overall view of it?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Kieran O'Donnell: Does Mr. Moran see that as still being live?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Kieran O'Donnell: I have two final questions. First, Mr. Moran commented on the mortgage crisis. Second, and this will kind of be Mr. Moran’s last testament, what is his opinion of how Ireland will progress during the next three years – I will not make it five, as that would be too long – and the risks that could impact on it?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Kieran O'Donnell: Mr. Moran has said much about risks. Where are the potential risks?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Kieran O'Donnell: Does Mr. Moran think that should apply to politicians as well?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Kieran O'Donnell: When Mr. Moran joined the Department, did he anticipate that? How long did he anticipate he would be Secretary General of the Department? Did he sign a contract? Was there a stated period?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Kieran O'Donnell: That is seven years.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Kieran O'Donnell: Is Mr. Moran moving on to another phase in his career? Is he moving back into the private sector? Has he decided what he is doing?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Kieran O'Donnell: We wish Mr. Moran well. Let us develop that. Obviously, many good things have happened. Let us focus on the banking system. Will Mr. Moran offer his thoughts on where he sees the future for AIB, Permanent TSB and Bank of Ireland? Can he link that to the mortgage restructuring arrangements that are taking place and the fact that 50% of these appear to be in legal letter form? There is an...

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Kieran O'Donnell: What is Mr. Moran's view on the issue of the European stress tests that are imminent? Where does Mr. Moran see our banks fitting into that process?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Kieran O'Donnell: There is a banking unit within the Department.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Kieran O'Donnell: Does Mr. Moran anticipate that our banks will come through the stress tests?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Kieran O'Donnell: I welcome Mr. Moran and his colleagues. I take the opportunity to commend him for the work he has done to date, but I must admit that I am somewhat intrigued as to why he is leaving the Department of Finance. I suspect many others feel the same way. I was trying to think of an analogy for what is happening and the one I have come up with is that it is similar to going to the cinema to see...

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012
(8 May 2014)

Kieran O'Donnell: I was paying Mr. Moran a compliment.

Public Accounts Committee: Business of Committee (8 May 2014)

Kieran O'Donnell: I seek clarification on a point. I see the differential between a company that tenders for work and is paid directly by the Department and one that gets a large allocation of funding from the Department that has discretion in the way it spends that to deliver the service. I understand the section 38 organisations were historic. They were funded directly from the Department of Health...

Public Accounts Committee: Business of Committee (8 May 2014)

Kieran O'Donnell: By extension.

Public Accounts Committee: Business of Committee (8 May 2014)

Kieran O'Donnell: They get more than 50% of the funding.

Public Accounts Committee: Business of Committee (8 May 2014)

Kieran O'Donnell: Okay.

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