Results 5,121-5,140 of 6,295 for speaker:Michael D'Arcy
- Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Book Sales (25 Sep 2018)
Michael D'Arcy: Since the onset of the financial crisis, progress has been made by the banks in reducing non-performing loans, NPLs, from their peak. NPLs at the banks in which the State has invested have reduced by approximately 70% from €54 billion in 2013 to €16 billion at the end of June 2018. This reduction includes the recently announced sale of a portfolio of NPLs by Permanent TSB,...
- Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Book Sales (25 Sep 2018)
Michael D'Arcy: The Minister for Finance cannot stop loan sales even by the banks in which the State has a shareholding.
- Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Book Sales (25 Sep 2018)
Michael D'Arcy: No, he cannot. These decisions, including the composition of the loans included in any loan sale, are the responsibility of the board and management of the banks which must run on an independent and commercial basis. The banks' independence is protected by the relationship frameworks, which are legally binding documents that the Minister cannot change unilaterally. I am aware that some...
- Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Book Sales (25 Sep 2018)
Michael D'Arcy: It has Harry Potter-style economics. Are we just going to pretend we have the money to purchase all of that loan book from-----
- Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Book Sales (25 Sep 2018)
Michael D'Arcy: Are we going to pretend we are going to make the money up? Is Sinn Féin just going to vanish the money? Sinn Féin has a history-----
- Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Book Sales (25 Sep 2018)
Michael D'Arcy: Sinn Féin has a long history of just grabbing money out of nowhere----
- Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Book Sales (25 Sep 2018)
Michael D'Arcy: -----but there is no prospect-----
- Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Book Sales (25 Sep 2018)
Michael D'Arcy: There is no prospect-----
- Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Book Sales (25 Sep 2018)
Michael D'Arcy: We cannot just magic the money. We have a budgetary process that will culminate on this day two weeks. The Deputy just wants to click his fingers and make €2 billion, €3 billion or €5 billion appear like magic.
- Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Book Sales (25 Sep 2018)
Michael D'Arcy: It is Sinn Féin Harry Potter-style economics.
- Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Book Sales (25 Sep 2018)
Michael D'Arcy: It is Harry Potter-style economics of just pretending it is going to appear out of nowhere. The Deputy will then be complaining that the State is not building.
- Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Book Sales (25 Sep 2018)
Michael D'Arcy: It is Harry Potter-style economics.
- Markets in Financial Instruments Bill 2018: Order for Report Stage (25 Sep 2018)
Michael D'Arcy: I move: "That Report Stage be taken now."
- Confidence in the Minister for Housing, Planning and Local Government: Motion [Private Members] (25 Sep 2018)
Michael D'Arcy: What about the Sinn Féin victims?
- Engagement with Investment Funds: Motion [Private Members] (27 Sep 2018)
Michael D'Arcy: We are not mad but maybe the madness took place exactly ten years ago when Fianna Fáil were over here and they guaranteed every bank in the State-----
- Engagement with Investment Funds: Motion [Private Members] (27 Sep 2018)
Michael D'Arcy: I move amendment No. 1:To delete all words after "and the Department over those years; and” and substitute the following:"— calls on the Government to implement the recommendation contained in paragraph 18 of the Report to introduce legislation for the regulation of all unregulated entities operating in the Irish mortgage market in order to protect Irish consumers; and —...
- Ceisteanna ar Reachtaíocht a Gealladh - Questions on Promised Legislation (3 Oct 2018)
Michael D'Arcy: On the vulture funds, Deputy O'Dea will be aware that the Government is supporting the legislation introduced by Deputy Michael McGrath, the Consumer Protection (Regulation of Credit Servicing Firms) (Amendment) Bill 2018 which is on Report Stage. We expect to have it concluded in the coming weeks.
- Taxation Agreement: Motion (3 Oct 2018)
Michael D'Arcy: I move:That Dáil Éireann approves the following Order in draft:The Multilateral Convention to Implement Tax Treaty Related Measures Order 2018,a copy of which was laid before Dáil Éireann on 13th September, 2018. Today, I am seeking approval for a motion as part of the process of ratifying a particularly important international tax agreement. The Multilateral Convention...
- Taxation Agreement: Motion (3 Oct 2018)
Michael D'Arcy: I recognise that some Members have differing views on one or two of the choices the Government proposes in ratifying the convention. However, it is important to acknowledge that ratification is a powerful weapon against aggressive tax planning. The small number of articles Ireland is not adopting will be kept under review as it would be open to us to opt in at a later date. It is important...
- Taxation Agreement: Motion (3 Oct 2018)
Michael D'Arcy: The Deputy does not help it.