Dáil debates
Tuesday, 17 July 2012
Economic Management Council
4:00 pm
Gerry Adams (Louth, Sinn Fein)
I appreciate that the main focus of the Taoiseach's meeting concerned the Government's Personal Insolvency Bill. Sinn Féin has welcomed the publication of that legislation but we are disappointed that the banks are being allowed to have a veto. Would the Government consider an independent agency, as we have sought, which is empowered to enforce legally binding settlements on debtors and creditors?
Did the banks give the Taoiseach an assurance that they would work within the terms of the Bill and engage constructively with mortgage holders?
Has the Taoiseach had any opportunity to consider the apparent change in the European Central Bank's policy on burning senior bondholders? If press reports of remarks by the ECB president, Mr. Draghi, are correct, this would be a significant change. Has the Taoiseach had an opportunity to consider the matter? Can he cast any light on reports that Mr. Draghi's proposals for the Spanish banks were rejected by EU finance ministers? I do not know whether that is true, but perhaps the Taoiseach has an inside line on it.
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