Results 4,241-4,260 of 27,945 for speaker:Michael McGrath

Leaders' Questions (21 Mar 2013)

Michael McGrath: They are the criteria for getting into the problematic category.

Leaders' Questions (21 Mar 2013)

Michael McGrath: The report states there are 1,100.

Leaders' Questions (21 Mar 2013)

Michael McGrath: It was introduced by the Government.

Order of Business (21 Mar 2013)

Michael McGrath: There are reports that the Minister for Justice and Equality, Deputy Shatter, and the new head of the insolvency service will next week publish minimum income guidelines to be used in assessing people's indebtedness in an effort to formulate solutions for such people. They will apparently deal with issues such as whether people may keep a second car, go on holiday or have a Sky Sports...

Order of Business (21 Mar 2013)

Michael McGrath: That is a great contribution.

Order of Business (21 Mar 2013)

Michael McGrath: What a waste of hot air.

Order of Business (21 Mar 2013)

Michael McGrath: Some Labour councillors can orchestrate that.

Ceisteanna - Questions - Priority Questions: Mortgage Arrears Proposals (21 Mar 2013)

Michael McGrath: To ask the Minister for Finance the way he will ensure that the balance in power between financial institutions and distressed borrowers is not altered in favour of the financial institutions as a result of recently announced measures to deal with the mortgage arrears crisis; if he will commit to putting in place clear guidelines as to what a sustainable solution means for borrowers in terms...

Ceisteanna - Questions - Priority Questions: Mortgage Arrears Proposals (21 Mar 2013)

Michael McGrath: I thank the Minister for his reply. My fear following last week's announcement about restructuring of mortgages is that it very much puts the banks in the driving seat. The banks will now be judge, jury and executioner when it comes to dealing with the individual mortgage account of any family in the country. When one looks at the requirement to put a sustainable solution in place, the...

Ceisteanna - Questions - Priority Questions: Mortgage Arrears Proposals (21 Mar 2013)

Michael McGrath: The Minister often refers to the independence of the Central Bank and states that an independent body oversees mortgages. This is true in that it provides the overall framework, but it does not get down to the level of individual mortgages and arbitration between mortgage holders and banks to achieve fair solutions, and ultimately this is the weakness in the strategy. I wish to ask about...

Ceisteanna - Questions - Priority Questions: Mortgage Arrears Proposals (21 Mar 2013)

Michael McGrath: Yes.

Ceisteanna - Questions - Priority Questions: IBRC Liquidation (21 Mar 2013)

Michael McGrath: To ask the Minister for Finance the action he will take to address the losses incurred by credit unions and other fixed deposit holders arising directly from the liquidation of Irish Bank Resolution Corporation; and if he will make a statement on the matter. [14405/13]

Ceisteanna - Questions - Priority Questions: IBRC Liquidation (21 Mar 2013)

Michael McGrath: I thank the Minister for the reply. This issue is one of the unforeseen consequences of the liquidation of IBRC or at least it was unforeseen on this side of the House, because Members were not aware of it in advance. While this is not a disaster for the credit union sector as a whole, it is a significant issue for the credit unions affected. The Minister has confirmed the involvement of...

Ceisteanna - Questions - Priority Questions: IBRC Liquidation (21 Mar 2013)

Michael McGrath: It is reasonable to ask why they did not transfer it out. The answer probably is that it was Government policy that there would be a gradual wind down of IBRC up to 2020. This particular tracker bond, as the Minister calls it, was due to mature over the next number of months so they had a reasonable expectation that it would be allowed to mature in full and they would realise the full value...

Other Questions: Mortgage Arrears (21 Mar 2013)

Michael McGrath: The targets that have been set are targets for the number of solutions proposed by the banks by June, September and December, respectively. It is critical that the Central Bank sets binding targets for the conclusion of agreements with borrowers. We must move into that space because the banks will be allowed to propose sustainable solutions involving interest only repayments or having...

Other Questions: Bank Debt Restructuring (21 Mar 2013)

Michael McGrath: The essence of this question is credit. As we know, the banks are deleveraging through the sale of their portfolios of loan assets, mainly abroad, and also by not giving out new credit. Last year, the Government set targets for credit given by the pillar banks to the SME sector. The banks say, and the Credit Review Office confirms, that they gave out €8 billion of lending last year...

Other Questions: Bank Debt Restructuring (21 Mar 2013)

Michael McGrath: The problem at present is that households are trying to pay back debt, the Government is trying to reduce its overall indebtedness and the banks are trying to reduce theirs. The combination of all of that makes economic recovery much more difficult. I accept there are a number of reasons that credit is not flowing as we would like it to. Part of it is that the banks do not have an...

Written Answers — Department of Health: Disability Services Programme Review (21 Mar 2013)

Michael McGrath: To ask the Minister for Health his plans to introduce a system whereby persons with disabilities will receive an individualised payment which can be used to provide the services they need to meet their particular needs; and if he will make a statement on the matter. [14582/13]

Mortgage Arrears: Motion [Private Members] (26 Mar 2013)

Michael McGrath: I move:That Dáil Éireann:notes: — the worsening crisis in respect of mortgage arrears, with over 94,000 residential mortgages in arrears for greater than 90 days and over 28,000 buy-to-let mortgages in arrears for the same period; — that almost one in four family home mortgages and more than one in three buy-to-let mortgages are now either in arrears or have been...

Mortgage Arrears: Motion [Private Members] (26 Mar 2013)

Michael McGrath: The Minister can put his side of the argument in a few moments.