Results 3,421-3,440 of 34,778 for speaker:Seán Fleming

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)

Seán Fleming: Is Professor Honohan saying that for the first time ever in the history of the State, we will have a value on each house which essentially has no relevance in relation to the banks? That is the message I am getting.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)

Seán Fleming: That information is in the public arena already.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)

Seán Fleming: Does Professor Honohan not appreciate the significance of the entire population valuing their own homes? What are the implications of this new event? It seems that Professor Honohan will dismiss this new event as irrelevant for the banks.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)

Seán Fleming: There is a potential risk, but the role of the Governor is to identify risk in advance and not wait until the third quarter to see what will happen. I think it is the job of the Governor to identify this risk in advance.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)

Seán Fleming: I am not asking the Governor to discuss anything about the negotiations on the promissory note, but will he explain the original intention of such a note? What happens physically or electronically to the repayment that is due to the Central Bank on 31 March each year? What happens to the €3 billion repayment and the cash equivalent that is handed back to the Central Bank at the close...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)

Seán Fleming: The IBRC will transfer in the normal course of events some €3 billion into 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)

Seán Fleming: At the end of March or 1 April, does Professor Honohan have the additional €3 billion sitting in his balance sheet or does he hand it over immediately to the European Central Bank? On which balance sheet does that €3 billion appear?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)

Seán Fleming: Does the Central Bank get the €3 billion?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)

Seán Fleming: On 1 April does the European Central Bank have approximately €3 billion more on its balance sheet?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)

Seán Fleming: Will it uncreate the currency, so to speak?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)

Seán Fleming: This is what I was driving at for the past three minutes. Will Professor Honohan explain in English the meaning of the phrase, to uncreate €3 billion? Will Professor Honohan explain what happens to this €3 billion which will be uncreated on 31 March? Does that mean burning it, shredding it or electronically wiping it out?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)

Seán Fleming: Will that €3 billion exist on 1 April 2013?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)

Seán Fleming: The €3 billion goes ultimately from the IBRC to the Central Bank to the European 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)

Seán Fleming: Is it not real money at all?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)

Seán Fleming: I understand the money is uncreated. What does that mean? I understand that to create currency means to make new currency, what does it mean to un-create it?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)

Seán Fleming: Yes, what is uncreated money?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)

Seán Fleming: On a point of order, I asked a question and I got five minutes of waffle. I am not happy to support that.

Ceisteanna - Questions - Priority Questions: Promissory Notes (17 Jan 2013)

Seán Fleming: To ask the Minister for Finance if a technical paper has been agreed with the Troika in respect of the options for restructuring the Irish Bank Resolution Corporation promissory note; if he intends to publish such a paper; the potential benefit to the State from the options under consideration; the timeline he envisages for conclusion of negotiations in respect of the promissory note; and if...

Ceisteanna - Questions - Priority Questions: Promissory Notes (17 Jan 2013)

Seán Fleming: I am pleased that the Minister has confirmed to the House in public that this deal is likely. I honestly believe he would not have made such a statement unless he was 100% sure we would get the deal. The Taoiseach stated some days ago he was confident of it and yesterday, at the Oireachtas Joint Committee on Finance, Public Expenditure and Reform, the Governor of the Central Bank stated...

Ceisteanna - Questions - Priority Questions: Promissory Notes (17 Jan 2013)

Seán Fleming: I accept that a deal is not certain. If it was, the Minister would announce it, but I hope one is close. My party hopes the Minister will get a good deal but not at any cost. There is one issue I ask him to put into the melting pot. I do not have the figures, but perhaps the Minister does and can work on them. In recent years when Irish Government bonds were trading at a figure of about...