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Public Appointments Transparency Bill 2009: Second Stage (Resumed) (23 Sep 2009)

Michael Kennedy: I thank Deputy Varadkar for opening the debate on this matter. Some aspects of the Bill are premature but it is useful to have the debate nonetheless. I hope that further down the road we will be able to get agreement across the House on the way forward. As Deputy Brady indicated, the Government has moved on this issue. The Minister for Transport, Deputy Noel Dempsey, and the Minister for...

Departmental Agencies. (15 Oct 2009)

Michael Kennedy: Deputy, please allow the Minister to continue.

Written Answers — Schools Building Projects: Schools Building Projects (20 Oct 2009)

Michael Kennedy: Question 580: To ask the Minister for Education and Science the progress report on the application by a school (details supplied) in County Dublin for a permanent two storey school building to replace the existing five prefabs, in view of the increased catchment area and capacity constraint; and if he will make a statement on the matter. [36755/09]

Written Answers — Library Projects: Library Projects (3 Nov 2009)

Michael Kennedy: Question 941: To ask the Minister for the Environment, Heritage and Local Government when the refurbished library in Rush, County Dublin will officially be opened in view of the fact that the original date for its opening was summer 2009; and if he will make a statement on the matter. [38232/09]

National Management Agency Bill 2009: Report Stage (Resumed) (4 Nov 2009)

Michael Kennedy: Could the Minister clarify if there will be a separate SPV for each of the banks? Is the €100 million a figure per bank per SPV?

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Michael Kennedy: The Deputy is listening too much to the facts.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Michael Kennedy: The Government's proposal is reasonable. I would be cautiously optimistic that NAMA will make a profit over the ten years. I do not have any special knowledge, but the knowledge I have equals that of anyone in the House because no one here has expertise in banking. I spent 30 years in the insurance business and every six months, insurance investment managers come into my office to show me...

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Michael Kennedy: We still hear the Labour Party talk about nationalisation.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Michael Kennedy: I wish Deputy Bruton's colleagues had spoken to the amendment. I wish to talk to the Labour Party about nationalisation. This week, for the second time, the Labour Party British Government has chosen not to nationalise. It has pumped more British pounds into its two bad banks.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Michael Kennedy: Perhaps, but it has not gone the route of nationalisation which one would expect a socialist party in Britain to do.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Michael Kennedy: That will go down well with the Deputy's colleagues at the next meeting of the British-Irish Inter-parliamentary Body, when he tells those on the Labour side that they are Tories.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Michael Kennedy: Irrespective of whether it is New Labour, Tory Labour or the ordinary Labour British Government, it has not gone the route of nationalisation.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Michael Kennedy: It is similar to Anglo Irish Bank on the day the government-----

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Michael Kennedy: I am not lecturing the Deputies. I am just giving them facts. They lecture us.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Michael Kennedy: We in this Chamber pontificate as experts, but why do the International Monetary Fund and the European Central Bank back NAMA?

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Michael Kennedy: Why did the OECD yesterday fully endorse the Minister for Finance and the Government's proposals? Are they fools? They advised the Government to proceed and to do so quickly.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Michael Kennedy: I am trying to speak to the amendment.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Michael Kennedy: Deputy Jim O'Keeffe spoke about land values and he mentioned Thornton Hall in North Dublin, Deputy Burton's constituency.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Michael Kennedy: He talked about the value of the land being €25,000 an acre. If he knew anything about land there he would have known that builders could not even buy class 1 open space for less than €1 million at the time. It was an inflated price but the realism that existed then-----

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Michael Kennedy: The value of Thornton Hall was not €25,000 an acre as Deputy Jim O'Keeffe from Cork seems to think it was.

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