Results 31,121-31,140 of 33,214 for speaker:Paschal Donohoe

Joint Oireachtas Committee on European Union Affairs: Ireland's Role in the Future of the European Union: Discussion (7 Mar 2013)

Paschal Donohoe: We do not make the same mistakes.

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Paschal Donohoe: The Chairman is asking what the cost is.

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Paschal Donohoe: I understand that.

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Paschal Donohoe: The net figure would be lower than this.

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Paschal Donohoe: For example, shares in banks.

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Paschal Donohoe: Would the potential renegotiation of repaying our programme money have a material effect on these figures in the coming years?

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Paschal Donohoe: I will leave it at that for the time being and allow other Deputies to contribute.

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Paschal Donohoe: I am aware personal insolvency legislation will be introduced, but it appears that for a large group of people who will not come under its parameters, the difference between what they can afford to pay and the value of the mortgage as registered on the bank's balance sheet is very big. They can still afford to service the mortgage and keep the home. What would happen to this difference...

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Paschal Donohoe: A split mortgage would consider the difference.

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Paschal Donohoe: Do we know how many mortgages have been split in this fashion?

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Paschal Donohoe: My understanding of the split mortgage model, which Mr. Moran confirmed, is that it could play a pretty big role in allowing people to deal with their difficulties. I am interested in the figure Mr. Moran has given. Mr. Moran has stated a number of times that we still do not have access to case by case financial information to allow us understand how far this solution could go. Why do we...

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Paschal Donohoe: Why not? This is the nub of my question.

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Paschal Donohoe: It has been two years. This, along with unemployment, is the biggest personal challenge many people face. The banks were capitalised two years ago for a number of reasons, one of which was to deal with this. They still cannot tell us how applicable these solutions would be. If they cannot tell us this, it means not enough people are being helped.

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Paschal Donohoe: It appears to me that split mortgages should be used as a solution. I deal with people in this plight regularly but I do not meet people to whom this is being offered. If Mr. Moran is telling me this is because we do not have the information, I am glad the frustration is shared. It is two years since the banks were given funding to deal with this issue. We have made the point. Table 2.4...

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Paschal Donohoe: This is once one moves beyond a discussion with the bank manager and makes a formal application.

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Paschal Donohoe: Mr. Moran is speaking about the stage after this.

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Paschal Donohoe: My understanding of the process is that if an application is refused it first goes to an internal review body and if one is unhappy with this one goes to the Credit Review Office. Is this correct?

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Paschal Donohoe: How does Mr. Moran assess the general capacity of the banks to deliver the credit objectives set forth?

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Paschal Donohoe: And credit insurance.

Public Accounts Committee: 2011 Appropriation Accounts and Annual Report of the Comptroller and Auditor General
Vote 6 - Office of the Minister for Finance
Chapter 1 - Financial Outturn for 2011
Chapter 2 - Government Debt
Chapter 3 - Banking and Insurance Measures
Chapter 5 - EU Financial Transactions (7 Mar 2013)

Paschal Donohoe: I will feed this back into the discussion we had on mortgages. Incidentally, figures have come out while we have been speaking and there has been an increase to 11.9%. Apparently this is a lower rate of increase than we have had in previous quarters. Earlier Mr. Moran offered the definition of a sustainable mortgage being a person's income versus the current market valuation of the...