Results 2,861-2,880 of 4,717 for speaker:Martin Mansergh

Seanad: Economic Situation: Statements (30 Sep 2008)

Martin Mansergh: I found it a stimulating debate with many different angles. Inevitably with the financial crisis coming on top of the economic difficulties, many of the contributions dealt with the financial events and decisions of the past 24 hours. While I do not wish to pre-empt in any detail later discussion on that topic, I will say a few words none the less. The action taken by the Government...

Seanad: Economic Situation: Statements (30 Sep 2008)

Martin Mansergh: Not my Department but across all Departments and agencies.

Seanad: Economic Situation: Statements (30 Sep 2008)

Martin Mansergh: Yes, but that is for next year.

Seanad: Economic Situation: Statements (30 Sep 2008)

Martin Mansergh: Announcements will be made about that later. It has to do with procurement, pooling buying power and so on. I cannot go into detail at present.

Seanad: Economic Situation: Statements (30 Sep 2008)

Martin Mansergh: I was quoting the Taoiseach.

Seanad: Economic Situation: Statements (30 Sep 2008)

Martin Mansergh: I will pass on that question if the Senator does not mind.

Seanad: Economic Situation: Statements (30 Sep 2008)

Martin Mansergh: Obviously any actions in regard to that issue will have to await the Estimates and the budget. So far, I would heavily qualify that the repossessions have been relatively small. There was a reference in a number of contributions to negative equity. Negative equity mainly affects people who, for one reason or another, may need to sell. For people who intend to hold on to their property, if...

Seanad: Credit Institutions (Financial Support) Bill 2008: Second Stage (1 Oct 2008)

Martin Mansergh: I thank Senators for agreeing to sit late tonight. This Bill provides legislative underpinning to the financial support provisions announced by the Government on 30 September for depositors and lenders to Irish financial institutions. It is a significant measure so that they can continue to provide the financial services that are vital for the proper functioning of our economy and the...

Credit Institutions (Financial Support) Bill 2008: From the Seanad (2 Oct 2008)

Martin Mansergh: The purpose of this amendment is to substitute a positive resolution process with regard to a scheme for financial support to guarantee credit institutions in place of the negative resolution in the Bill as initiated. The amendment which was signalled by the Minister for Finance in the Dáil earlier this morning reflects the importance of ensuring both Houses of the Oireachtas have an...

Credit Institutions (Financial Support) Bill 2008: From the Seanad (2 Oct 2008)

Martin Mansergh: I thank all Deputies for their contributions to the debate, particularly the spokespersons and leaders of Fine Gael and the Labour Party. The Minister will take careful account of everything that has been said in the House, both this morning and last night, in drafting the scheme and proceeding generally with the legislation. In reply to Deputy Bruton and others, the basic point is that the...

Credit Institutions (Financial Support) Bill 2008: From the Seanad (2 Oct 2008)

Martin Mansergh: Yes, there is. In response to Deputy Ó Caoláin, we acknowledge the support Sinn Féin gave to the Bill, which I am sure was for broader strategic interests and the protection of the real economy. I understand the difficulties this may have caused. While it is obviously the intention and expectation that any such motion on the scheme would be debated in the Houses of the Oireachtas and...

Credit Institutions (Financial Support) Bill 2008: From the Seanad (2 Oct 2008)

Martin Mansergh: All I can state is the position.

Credit Institutions (Financial Support) Bill 2008: From the Seanad (2 Oct 2008)

Martin Mansergh: The position is perhaps a little more subtle. While it is the case that the House can agree or not agree the draft scheme, the Minister can, of course, withdraw the scheme and resubmit a revised scheme in light of comments.

Credit Institutions (Financial Support) Bill 2008: From the Seanad (2 Oct 2008)

Martin Mansergh: A point made by Deputy O'Donnell implied the Government should be seeking a take or profit from the situation. The emphasis of the Government will be on full cost recovery.

Credit Institutions (Financial Support) Bill 2008: From the Seanad (2 Oct 2008)

Martin Mansergh: Section 6(4) states that "all financial support provided shall so far as possible ultimately be recouped from the credit institution ... to which the support was provided". That is a fairly clear statement of principle.

Credit Institutions (Financial Support) Bill 2008: From the Seanad (2 Oct 2008)

Martin Mansergh: It is still a form of recoupment.

Credit Institutions (Financial Support) Bill 2008: From the Seanad (2 Oct 2008)

Martin Mansergh: Deputy Barrett, in a sense, has answered the point as far it legitimately goes. In response to Deputy Kenny, leader of Fine Gael, I would like to acknowledge the very constructive role of the Fine Gael Party in this whole debate. All sides of the House have appreciated the acute strategic importance of dealing with this situation correctly and in a way that would prevent very adverse...

Credit Institutions (Financial Support) Bill 2008: From the Seanad (2 Oct 2008)

Martin Mansergh: ——by the fact the Governor of the Central Bank has often been the Secretary General. We have an enviable record over the past 80 years. Deputy Gogarty made the point that, essentially, many lessons must be learned. Indeed, they must.

Flooding at Newcastle West. (8 Oct 2008)

Martin Mansergh: I thank the Deputies for giving me an opportunity to come into the House to discuss the severe flooding in Newcastle West and Athea. While many locations have been affected by serious flood events in recent weeks, it was particularly severe in Newcastle West. Having seen at first hand the devastation caused in the town on the night of 31 July and 1 August and having spoken to people...

Flooding at Newcastle West. (8 Oct 2008)

Martin Mansergh: It is beyond doubt, however, that the rainfall over the area on the night of 31 July and 1 August was several times greater than the highest level that would be expected and that in turn produced a flood in the river far beyond the normal probabilities of occurrence. The River Arra, which flows through the town, is part of the River Feale catchment and is therefore maintained on a regular...