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JOHN MORAN, THE most senior official in the Department of Finance, has resigned his position today in surprise move.
Finance Minister Michael Noonan said that it was with “great regret” that he accepted Moran’s resignation as secretary general of the Department of Finance this morning.
It’s understood that Moran is to return to the private sector though he has no immediate role lined up at present.
The exact reasons for his departure are unclear but it comes following Ireland’s exit from the bailout programme last December and the restructuring of the Anglo Irish Bank promissory note arrangement last year which will, according to the government, yield significant savings to the State in the coming decades.
Officials in the Department of Finance said that the resignation was not widely known of before today. A spokesperson said that Moran felt “that his work in bringing about the recovery was done and now he felt it was time to move on.”
It is thought that Moran will remain in post for at least the next couple of months. He is said to have always considered the job at finance “a short term appointment”.
The spokesperson said: “He was very progressive. He brought new ideas with him and would have been well received.”
Moran is due to appear before the Public Accounts Committee to report on his department’s accounts for 2013 tomorrow morning. That hearing is still scheduled to go ahead.
Paying tribute to Moran today, Michael Noonan said:
Since John first joined the Department of Finance on secondment from the Central Bank he played a leading role in recapitalising the banking sector and restoring the economy at a very difficult time.
Since his appointment as Secretary General he has been involved in every significant decision taken by me throughout the bail out programme, including those decisions which saw Ireland successfully exiting the programme.
I valued his council during those very difficult times and I wish John every success in the future.
- additional reporting from Jack Horgan-Jones
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That’s very sudden – interesting…..
Was he not allegedly implicated in a role concerning the Barclay brothers and McKillin. Did he not allegedly take it upon himself to give the Barclays some inside ‘help’, well outside his remit if I recall correctly!!
VERY interesting … .. answer the QUESTION mR mORAN
Maybe he left because he WANTS to answer it – assuming there isn’t a simple explanation of course.
Good observation, Niall.
Looking forward to seeing what happens at PAC tomorrow.
He can see whats coming down the road……………decided to jump instead of being kicked
Gus
Sinn Fein are not guaranteed to be in the next Govt, so therefore I doubt thats his reason for resigning. Economically Sinn Fein are toxic & bar the looney socialists & communists I can’t see anyone with a real interest in our kids future taking office with them.
Sinn Fein will not be in the next government.
Despite what you read on here most Irish people understand that you cannot tax people into the ground.
I find it absolutely hilarious listening to people who support SF moan about the taxes they are paying now if SF got in then you’d know a real recession. It would be like the 50′s again.
Maybe he resigned because he discovered a bit of morality and understands that FG are nothing more than a group of inept clowns who support having law breakers in government and do not have our kids future in mind every time they enrich another banker, bondholder or corrupt friend of the party, it’s only the most yellow bellied and rabid blueshirt who thinks this ensemble of ex teachers and farmers are doing good for this country.
Any chance of you sharing your crystal ball Alan?
You don’t need a crystal ball. The country is not crazy.
James lightrn up willa for Gods sake you are so serious sometimes!
James going by the morals of our government parties they would get into bed with the Devil himself just to stay in power and you know that!
Alan O’Connor have you not noticed yet? We ARE in a deep recession, go west of the Shannon (its Ok they have bridges now) and see the empty towns and villages, shops closed and charity shops and soup kitchens as in Roscommon.
The country is batshit crazy Alan and that was pretty evident when FG and Labour were voted in to replace the clowns in FF.
The definition of insanity is doing the same thing over and over and expecting different results…well sir, we’ve been voting in criminally inept nest featherers to replace criminally inept nest featherers and you say the country is not crazy?
It was monumentally insane for anyone to vote back into office a minister who once threatened to take a dying woman to court just to protect himself and FG, it was insane to think that a career politician like Edna Kenny who sat anonymously in the dail for longer than I’ve drawn breath and has had a remarkably quiet and useless political career would somehow be a white knight to rescue us all from abhorrent government and deliver transparency and accountability…oh this country is crazy and just crazy enough to vote FF and FG back into government whenever this current shambolic and absolutely useless coalition finally dissolves.
I always find it amusing when people call Socialist /communist policies looney in the context of the biggest economics S**t storm in decades brought to us by the capitalist market. Rightwing neo liberal policies got us into this mess not Socialists.
It wasn’t the “looney socialists and communists” who transferred €100+ billion of private bank debt on to the national balance sheet. It was instead those brave free market buccaneers of FF who instigated the theft and the neo liberal right like Noonan and Moran who continue to impose this odious debt on the citizens. Our total government debt was about €47 billion in 2007, the second lowest in the Eurozone standing at around 25% of GDP. We have moved from this position to owing the monstrous sum of €215 billion. The main reason for this is that the true cost of the bank bailout is over €113 billion and most of it has been added to the national debt.
The National Pension Reserve Fund and general exchequer fund were raided for €17.5 billion and transferred to the European Financial Stability Facility & Mechanism (EFSF&M) funds. The EU then generously allowed us to borrow €67.5 billion from the EFSF&M which we are paying back with interest. €64 billion of this has been used directly cover private and illegitimate banking debt. In this way the EU gets to have the eurozone banking system stabilized at the expense of the Irish people and we get to pay for the privilege via the interest we pay on the debt. This does not include the €32 billion also borrowed that we have pumped into NAMA to indirectly prop up the banks by taking the bad commercial property loans off their books. Adding the 3 figures together (17.5 + 64 +32) gives a total cost of around €113 billion and counting for the bank bailout so far. Most of this money has been borrowed and the interest payments make up a major component of our current annual budget deficits.
Most countries run a budget deficit most of the time and it makes perfect macro economic sense to do so. It’s really only the Eurozone countries that are required to borrow their own currency in the market at an interest rate determined by the market. Fiat currency issuing nations like the U.S and U.K do not need to obtain dollars and sterling from the bond markets to finance a budget deficit for example. When they do choose to issue government bonds the primary objective is to implement monetary policy, not as a necessity to raise revenue. In addition, when those countries do ‘borrow’ in the market, they effectively decide what the yield/interest will be unlike the Eurozone nations subject to the tender mercy of the speculators.
In contrast, the Euro single currency was deliberately designed to allow speculative financial capitalism to profit massively from member state sovereign debt as monetary policy is now in the hands of the ECB who impose destructive neo liberal economics on the citizens with the assistance of member state puppet governments including our own FG/Labour quislings.
The country was founded by socialists.
Capitalists have done nothing but wreck it.
What’s coming down the road Gus?
Sorry Seamus the country was founded by a conservative party CnG. Never had your socialist revolution and never will! sorry!
ah good old socialists – a long tedious post when a short one will do zzzzzzz
You’re entitled to your opinion Dermot. But I will not be voting for a party that wants to tax the hell out of the middle and upper classes while also ensuring that some of our biggest employers leave, thus reversing the trend of lower unemployment. Sinn Fein’s economic policies bear no relation to reality.
Rats leaving a sinking ship comes to mind.
Or parents going home every afternoon and getting embarrassed when their children ask “what did you do today Daddy?”
Sinn Fein are on the march. Rather be led by a patriot than a daddy did this so I’ll do it failed teacher-politician.
Haha this comment is so bereft of logic or even simple understanding of basic tax for services that I rolled my eyes so far it hurt.
rats fleeing a sinking ship
And then join Topaz!
What are you talking about? He’s a civil servant. He stays in his job no matter who is in power.
The lack of knowledge on this site about how things work is staggering.
And I think the answer to Shane Ross’ first question will be, ‘ I got out yesterday cos… last month my pension went from gold level to platinum level…sorry, sorry, I mean, I felt it was time to share my expertise and inside knowledge with the broader(and better paying) private sector….such as foreign banks, private equity firms or anyone trying to do a deal with NAMA!!
If u read the article again it’s says he’s leaving to return to the private sector.
Your lack of being able to read and understand an article is staggering.
And he can’t even do that without getting a kicking from the self appointed policemen on here. How dare he change jobs/sectors without explaining his personal choice and situation to us.
Some of you would want to take a long hard look at yourselves.
Alan, stop while you think your ahead. Your sounding desperate now.
Moran looks like a poor man’s Bond villain
He’ll be on a beach somewhere when whatever it is gets made public in 6 months time.
There he’ll be in his sun lounger, out in dollymount strand, laughing at us.
Any chance you can go with him mr Noonan,you bag of s#%”te
Wonder what’s to become of this — Hard to keep up in this country.
http://www.reuters.com/article/2014/05/07/banks-aib-idUSL6N0NT37920140507
Nothing’s to become of that. That’s just the EU saying that Ireland didnt break EU competition law by giving the banks money (state aid is illegal to private companies). It was never really disputed though that it was illegal but that’s the confirmation anyway
I’ve a feeling he might be pulling a sickie tomorrow….
My guess is he’s leaving because he knows what’s coming. Once the European elections are over the next phase of the Euro zone crisis is likely to manifest itself, having been put on hold effectively by the EU and ECB over the last few months in order to 1. Perpetuate the myth of economic recovery in the hope that by shere power of thought and wishful thinking that the underlying problems would somehow sort themselves out. And 2. To ensure that ultra conservative parties who hold political power in the European parliament get reelected in sufficient numbers to continue their agenda of privatisation and accumulation by dispossession of the wealth and resources of Europes working classes. The re-emergence of the Eurozone crisis will have grave ramifications for FG and Labour’s deluded notion of real sustainable recovery so hence this guy’s departure, at least he can turn around and say “well when I left things were looking good” :P
Perhaps the one the” free” press cannot name has made him an offer he cannot refuse…..
Similar to Elderfield who saw it coming and left quickly, speaking of which, it all died down surrounding abruot move last year as I recall?
“Since John first joined the Department…………… he played a leading role in recapitalising the banking sector and restoring the economy…
No no no Noonan, the taxpayer recapitalised the banks and the economy is far from restored. Are you a lair and/or an idiot?
“This man might seem insignificant in the scheme of things but he was one of the most destructive people ever to grace the Department of Finance. John Moran was recruited by the current government from the banking sector where he worked as an economist. John Moran oversaw the worst financial crime committed in the history of the state and in fact publicly stated that people SHOULD be evicted from their homes in the quickest manner possible!
“Minister for Finance Michael Noonan says it is with regret that he accepts Mr Moran’s resignation as Secretary General. He says he played a leading role in recapitalising the banking sector and restoring the economy at a very difficult time. Minister Noonan says that since Mr Moran’s appointment as Secretary General he has been involved in every significant decision taken throughout the bailout programme, including those decisions which saw Ireland successfully exiting the programme.”
In other words this man paved the way for for the people of this country to become economic slaves for the next 40 years. John Moran was a banker first and foremost while he was being paid by the taxpayer to act in our interests which he clearly didn’t!”
So good f**king riddance to another useless and anonymous creep hiding in FG’s dept of f**k everyone apart from ourselves and bankers.
I’m sure he enjoyed his counsel as well as his council.
I think Noonans statement explains the hidden agenda of this banker operative:
“Since John first joined the Department of Finance on secondment from the Central Bank he played a leading role in recapitalising the banking sector…”
He was an agent of the Central Bank IN Ireland – he served his masters with distinction dumping the ponzi debt onto the nations citizens.
He will get any job he wants for the international central banker money masters. What great patriots he and Peter S. have been to our nation.
He was Moran by name and Moron by nature. To the tune of Lawless by nature, Christy Moore.
Topaz or not Topaz that is the question?
something serious , i hope .
Cardiff already had taken the plum job in Europe so maybe he thought phuk it I’m not going to be the only patsy for what went before.
Least he could have done was take the “Micky” with him…
People before Profit for me are the only realistic alternative the rest are pretty much all the same regardless who gets into power.
Shatter gone too
John Moran has provided a good precedent for bringing in quality outsiders to head-up government departments, such as Finance in this case.
Forgive my ignorance but can I assume he doesn’t keep his pension? Are they still allowing the pensions from all posts held in govt?
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