Results 3,121-3,140 of 26,021 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: EU Taxation Policy: Discussion with EU Commissioner (10 Jan 2013)
Kieran O'Donnell: It might even be six.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: EU Taxation Policy: Discussion with EU Commissioner (10 Jan 2013)
Kieran O'Donnell: What are the Commissioner's plans for tax fraud as up to €1 trillion is leaked through it? CCCTB has been around for many years. Where does the Commissioner see the process going in this? What timeframe does he see for CCCTB and FTT to come into practical effect?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Kieran O'Donnell: I welcome Professor Honohan. I will approach the promissory note from a slightly different angle. In his presentation to us, Professor Honohan said: "What we have designed is [..] largely in the interests of the euro system as a whole." Will he elaborate on that? Does Professor Honohan believe that what is being constructed here will be unique to Ireland? What is the net cost of the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Kieran O'Donnell: Is there no similar construct or financial engineering with any other bank in the eurozone, which is currently linked into the ECB within the European system?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Kieran O'Donnell: Nothing on the same scale.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Kieran O'Donnell: Does Professor Honohan expect that a deal will be forthcoming?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Kieran O'Donnell: To put it another way, how important is it for Ireland that we have a satisfactory outcome in terms of the negotiations on the promissory note?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Kieran O'Donnell: We have an interest charge in the State's current account for the promissory note on an accrued basis of just short of €1.9 billion.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Kieran O'Donnell: How much of that comes back?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Kieran O'Donnell: It is a reasonable question to ask concerning a loan of that scale.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Kieran O'Donnell: What interest rate would they be paying to the Central Bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Kieran O'Donnell: So, at a minimum, that would be €500 million or €600 million a year coming back from the promissory note.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Kieran O'Donnell: I accept that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Kieran O'Donnell: What are the features that Professor Honohan feels are unique to the promissory note? He mentioned unique features, so which ones have given scope to find a solution with the ECB, which will bring down the cost of borrowing? Does he see a reduction in the size of the debt in any way? Is he looking at a reduction in the cost of borrowing over a period of time?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Kieran O'Donnell: So Professor Honohan would see a reduction in the interest rate and an extension of the time period?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Kieran O'Donnell: Can I come back to Professor Honohan on the mortgage situation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Kieran O'Donnell: I would take exception with him on that. I have read Ms Fiona Muldoon's comments and, as Professor Honohan said, she has a flowery way of expressing herself. She was extremely direct. She spoke about the banks' lip-service and said she saw too many loan extensions masquerading as solutions. She said that hope was not a strategy any more than anger. It is not good enough for the Central...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Kieran O'Donnell: Thank you, Chairman. What will Professor Honohan do to ensure that the banks will now come to arrangements with mortgage holders? He has stated repeatedly that the banks are adequately capitalised. What will he do to ensure that when people come to the banks they will hold reasonable discussions and negotiations with them instead of, as Ms Muldoon said, paying lip service? Professor...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Kieran O'Donnell: In the limited time I have, may I put it in context? I am worried that when the banks come out of this, which they will, they will undertake wholesale repossessions. Effectively, banks will be banks, so what changes are we going to see? What procedures will be put in place by the Central Bank to ensure that the banks will effectively deal with the mortgage crisis and allow people to remain...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Kieran O'Donnell: Ms Fiona Muldoon said that lip-service was being paid to this issue and she said that repeatedly.