Results 3,261-3,280 of 26,021 for speaker:Kieran O'Donnell
- Public Accounts Committee: National Transport Authority - Financial Statement 2011 (24 Jan 2013)
Kieran O'Donnell: Which is a pity.
- Public Accounts Committee: National Transport Authority - Financial Statement 2011 (24 Jan 2013)
Kieran O'Donnell: Students have the same requirements in terms of broadband.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)
Kieran O'Donnell: I welcome Mr. Corrigan, Mr. Whelan and Mr. Murphy. I refer to the issue of the fiscal cliff. The three components of debt sustainability are the level of the debt, the interest rate and the repayment terms. I will take up the point made by Deputy McGrath about the fiscal cliff. The requirement is to have six months' funding on hand at all times. If €7.5 billion were to be raised...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)
Kieran O'Donnell: Is it €5.3 billion?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)
Kieran O'Donnell: What is the situation for 2017?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)
Kieran O'Donnell: What is the situation for 2018?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)
Kieran O'Donnell: What would have been the typical profile for the period from 2002 to 2008? What was the normal profile of the NTMA's financing requirements?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)
Kieran O'Donnell: There was a mention of a requirement of €12 billion at the start of 2014. How does that relate to the €7.7 billion in 2014? I think I am correct in saying that there is a €12 billion fiscal cliff in January 2014.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)
Kieran O'Donnell: Is that the total repayment in 2014 - €12 billion plus €7 billion?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)
Kieran O'Donnell: The profile for the years 2014 and 2015 shows us reducing the budget deficit. There are issues with regard to 2016 and, in particular, 2018. Those two years stand out. Is it correct to say that the NTMA has reasonably heavy financial requirements for 2014 to 2018?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)
Kieran O'Donnell: The question of extending the repayment terms is quite significant. I ask Mr. Corrigan to expand on his reply to Deputy McGrath's question. What parameters were considered by the NTMA in making the judgment about the billions of euro in savings?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)
Kieran O'Donnell: If I may expand on that point, what is the current yield on ten-year Irish bonds?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)
Kieran O'Donnell: What is the average rate of return on the funds? What is the approximate blended rate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)
Kieran O'Donnell: Our spread with Germany is about 2.98%, based on Mr. Corrigan's information.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)
Kieran O'Donnell: What would the NTMA be looking for in terms of ten-year bond yields, the long-term yield in Irish Government bonds? I ask him to factor in that calculation in his discussion. How important are credit rating agencies when it comes to attracting investors? I ask Mr. Corrigan to provide us with an understanding of the NTMA's task at hand.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)
Kieran O'Donnell: Mr. Corrigan has made this point previously, but it is not really reflective of the situation in Ireland. What does he believe it will take for the credit rating agencies to move Ireland up the ladder? Fitch recently raised our rating to stable. Will Mr. Corrigan refer to the promissory note and set out what it will take to ensure the price of Irish bonds reflects the reality on the ground?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)
Kieran O'Donnell: I want to get Mr. Corrigan's honest view.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)
Kieran O'Donnell: Does Mr. Corrigan anticipate that Irish bond yields will continue to reduce in the next six months?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)
Kieran O'Donnell: That has been lost in the discussion. This is about the absolute rate. While the spread would be very important if German rates were reasonably high and ours were higher again, it is not the key measure in circumstances in which German rates are virtually zero.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)
Kieran O'Donnell: I turn to the promissory note and the spreading of repayment terms and a bullet payment at the end. There will be an extended repayment period and a reduction in interest rates. In the context of the budget, we have of the order of €1.9 billion in promissory note interest charges. While that figure will go down slightly in the next two years, one is still talking about €5.5...