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Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Discussion with Minister for Finance (8 May 2013)

Richard Boyd Barrett: Given that the new bank resolution regime has established that senior bondholders can take a hit and following events in Cyprus, have we not got a case for claiming some level of write-down given that we took the hit for bondholders?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Discussion with Minister for Finance (8 May 2013)

Richard Boyd Barrett: What concessions can we seek on foot of that admission?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Discussion with Minister for Finance (8 May 2013)

Richard Boyd Barrett: Is the Minister saying that he does not consider us to be in a position to seek further concessions on foot of what is a fundamental shift in policy on the part of the European Union?

Ceisteanna - Questions - Priority Questions: Youth Services (9 May 2013)

Richard Boyd Barrett: 3. To ask the Minister for Children and Youth Affairs if she will consider reversing the recent cuts to City of Dublin Youth Services Board; and if she will make a statement on the matter. [22121/13]

Ceisteanna - Questions - Priority Questions: Youth Services (9 May 2013)

Richard Boyd Barrett: I thank the Minister for her reply but it is disappointing. I find many of the cuts that are being imposed as part of the Minister’s austerity regime cruelly unjust and senseless. There are few cuts, however, that could be more unjust and senseless than the cutting of funding to youth community services for some of the most vulnerable young people. The reason I have raised this...

Ceisteanna - Questions - Priority Questions: Youth Services (9 May 2013)

Richard Boyd Barrett: The Minister referred to projects which took small cuts, a point acknowledged by some of those on the protest, but others have taken 10% cuts. Some were initially looking at a 14% cut to funding. All the organisations involved said that any cuts against a background where we have a disproportionate number of young people at risk will have an enormous impact. No cuts are acceptable in a...

Written Answers — Department of Public Expenditure and Reform: Coillte Teoranta Harvesting Rights Sale (9 May 2013)

Richard Boyd Barrett: 101. To ask the Minister for Public Expenditure and Reform if his attention has been drawn to the possible legal difficulties or obstacles to the sale of the harvesting rights of Coillte; in particular, if such a sale might breach articles in the Aarhus Convention in relation to public participation and environmental issues; and if he will make a statement on the matter. [21992/13]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Six Month EU Scrutiny Report: Discussion with Department of Finance (9 May 2013)

Richard Boyd Barrett: One could just call it a straitjacket.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Six Month EU Scrutiny Report: Discussion with Department of Finance (9 May 2013)

Richard Boyd Barrett: I welcome the officials to the committee. I will echo Deputy Donnelly by saying it is a pleasure to meet the real Government, the power behind the throne.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Six Month EU Scrutiny Report: Discussion with Department of Finance (9 May 2013)

Richard Boyd Barrett: I hope the officials can give us some insight on some of the big issues facing us. We are being told there is progress being made on the banking resolution regime. When did the big shift in policy take place? From my point of view it seems to have happened as a result of what occurred in Cyprus when the initial move to raid the savings of people with under €100,000, which had been...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Six Month EU Scrutiny Report: Discussion with Department of Finance (9 May 2013)

Richard Boyd Barrett: Can Mr. Carrigan be more specific? Naturally, banking resolution has been on the agenda for some time. However, something fundamental occurred which coincided with events in Cyprus. The European authorities' first reaction to that crisis was essentially to pursue what the Government has pursued hitherto in Ireland and elsewhere which was to say that we cannot burn senior bondholders....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Six Month EU Scrutiny Report: Discussion with Department of Finance (9 May 2013)

Richard Boyd Barrett: If that was the case, does Mr. Carrigan know why the Commission's first proposal to deal with the crisis was to state it needed to protect the senior bondholders and that ordinary savers had to take the brunt, a policy which then shifted? I would like to know about the process that led to the shift in policy.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Six Month EU Scrutiny Report: Discussion with Department of Finance (9 May 2013)

Richard Boyd Barrett: I will not pursue the issue any further because time is short, except to say statements came not from the Cypriot Government but other EU member states, including our own Minister for Finance, that the initial proposal was good for Cyprus and Europe. That does not quite tally with Mr. Carrigan's account. Given that there has been a change of policy, whenever it dates from, on how to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Six Month EU Scrutiny Report: Discussion with Department of Finance (9 May 2013)

Richard Boyd Barrett: Will Mr. Ó Brolcháin elaborate on the obstacles involved? We know what we are told we are looking for; therefore, what is the reason for the hold-up? Is it a legal or a political matter?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Six Month EU Scrutiny Report: Discussion with Department of Finance (9 May 2013)

Richard Boyd Barrett: The theme of the Irish Presidency has been stability, growth and jobs. Reading the dossiers to which the delegates refer in their introduction and hearing their comments today and the Minister’s comments yesterday, most of them seem to relate to what is called financial stability, banking union, supervision, economic surveillance and so on. Will they be more specific about where we...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Six Month EU Scrutiny Report: Discussion with Department of Finance (9 May 2013)

Richard Boyd Barrett: I am talking about the European Presidency.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Six Month EU Scrutiny Report: Discussion with Department of Finance (9 May 2013)

Richard Boyd Barrett: I want to tease out this issue briefly. I understand the Minister for Jobs, Enterprise and Innovation is supposed to come up with specific concrete proposals about how we might create jobs, but that is not what I am asking about. I am asking about unemployment and employment as a macroeconomic category, as a metric by which to measure the viability and health of the economy overall. Is...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Six Month EU Scrutiny Report: Discussion with Department of Finance (9 May 2013)

Richard Boyd Barrett: Is unemployment one of the 11 metrics by which we judge the economic imbalances in economies?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Six Month EU Scrutiny Report: Discussion with Department of Finance (9 May 2013)

Richard Boyd Barrett: Is there any indication on the basis of Britain’s challenge to the FTT? The UK is now taking a legal challenge to stop 11 other countries doing it, which indicates that it is worried that the FTT might adversely affect it. This seems to suggest the opposite view from the UK about what the FTT might do.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Six Month EU Scrutiny Report: Discussion with Department of Finance (9 May 2013)

Richard Boyd Barrett: I thank the witnesses.

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