Results 3,941-3,960 of 26,843 for speaker:Richard Boyd Barrett
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Richard Boyd Barrett: So there will be a write-down.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Richard Boyd Barrett: In the short time available to me I must ask Professor Honohan-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Richard Boyd Barrett: It is simple restructuring, is it not?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Richard Boyd Barrett: It is only restructuring, is it not?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Richard Boyd Barrett: There is no write-down. That is not even being discussed.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Richard Boyd Barrett: The Deputy's presentation is a little like what his colleagues are complaining about, namely, bankers coming in here and stating they will not give any forgiveness.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Richard Boyd Barrett: It is exactly the same. I am making a direct analogy between the two and I am stating it is the problem. Professor Honohan is capitulating to a perspective which is that we carry the can for everything in terms of the national debt and we might get a little restructuring if we are really lucky, and in terms of mortgage distress the mortgage holders will carry the can for the whole lot and...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Richard Boyd Barrett: I wish to pick Professor Honohan up on this because I have very little time. He stated if we gain blanket write-down to current market values across the board instead of the failing system of dealing with it individually, which has delivered nothing so far and even Fiona Muldoon accepts it delivers virtually nothing, that the public would have to pick it up. I will put another scenario to...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Richard Boyd Barrett: This is money in the private banks.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Richard Boyd Barrett: This year we will pay €9.1 billion in interest and in addition the private banks, which we bailed out with money we gave them, will pay out €17 billion to senior bondholders. This is €26 billion. Our primary deficit this year is €3 billion. Is it not simply false to claim we will face a huge deficit cliff if we repudiate the debt and refuse to pay off senior...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Richard Boyd Barrett: Such as?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Richard Boyd Barrett: Let them get burned instead of us.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Richard Boyd Barrett: Against what I have proposed Professor Honohan stated dire consequences would follow. Does it worry him that an EU Commission report stated domestic growth is in deep trouble and if it continues to deteriorate and the unemployment situation does not improve, our debt may become unsustainable?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Richard Boyd Barrett: It could not be much worse for them.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Richard Boyd Barrett: I wish to return briefly to the prospects for economic recovery. In the best case scenario set out by the troika and the Government, we are looking at a situation where at the end of this year there will be zero increase in net employment.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Richard Boyd Barrett: Not according to the medium-term fiscal outlook; it will be zero.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Richard Boyd Barrett: Their best projection is that by 2015 it might have dropped by about 1% to 2%. In the best case scenario, therefore, we are facing chronic mass unemployment for the next three years. If the European Commission is correct and things turn out worse in the domestic economy, it will be worse than that. Does Professor Honohan honestly think that is a serious perspective that offers any hope to...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Richard Boyd Barrett: Could we not examine it instead of just ridiculing it? Given that we have detailed figures on the Government's perspective and the troika's perspective, and they are not exactly bright and hopeful, would it not be worth examining the alternative scenario rather than just ridiculing it as certain to bring disaster?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (16 Jan 2013)
Richard Boyd Barrett: That is the downside.
- Leaders' Questions (17 Jan 2013)
Richard Boyd Barrett: The rich are saving.