Results 5,821-5,840 of 36,138 for speaker:Pearse Doherty
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Review of ECOFIN Matters under Irish EU Presidency: Discussion (3 Jul 2013)
Pearse Doherty: I am not envisaging a resolution issue either, but a recapitalisation issue. Under this instrument, the first people to take a hit before we could even get access to the ESM would be the shareholders. Is that not correct? Am I reading this wrong?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Review of ECOFIN Matters under Irish EU Presidency: Discussion (3 Jul 2013)
Pearse Doherty: Just to be clear, if one of our banks required additional capital after stress tests were carried out next year, and it could not raise it in the international markets, it would have access to the ESM and this bail-in procedure would not apply.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Review of ECOFIN Matters under Irish EU Presidency: Discussion (3 Jul 2013)
Pearse Doherty: I just-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Review of ECOFIN Matters under Irish EU Presidency: Discussion (3 Jul 2013)
Pearse Doherty: I have no evidence at this stage either, but I just want to know if I am hearing this correctly. If the banks needed additional capital, would they able to go to the ESM for that capital, and is it the case that the bail-in procedures would not apply?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Review of ECOFIN Matters under Irish EU Presidency: Discussion (3 Jul 2013)
Pearse Doherty: The Minister can clarify this. It may not happen and it hopefully will not happen, but if it did happen, could we get access to the ESM? We were sold this so strongly. There was no reluctance on the part of the Minister during the Lisbon treaty referendum to tell us that we had that lifeline in the ESM. If a bank needs further capital - I am not mixing this up - sometime next year, do we...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Review of ECOFIN Matters under Irish EU Presidency: Discussion (3 Jul 2013)
Pearse Doherty: Before or after we apply a bail-in?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Review of ECOFIN Matters under Irish EU Presidency: Discussion (3 Jul 2013)
Pearse Doherty: Jesus Christ, Minister - just answer the question.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Review of ECOFIN Matters under Irish EU Presidency: Discussion (3 Jul 2013)
Pearse Doherty: The answer is a very simple "Yes" or "No".
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Review of ECOFIN Matters under Irish EU Presidency: Discussion (3 Jul 2013)
Pearse Doherty: Can a bank get capital through the ESM without the requirement for a bail-in, if it cannot raise money on the international markets and needs capital? I am wasting my time on this simple question.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Review of ECOFIN Matters under Irish EU Presidency: Discussion (3 Jul 2013)
Pearse Doherty: It is one year last week since the major game changer, or the seismic shift, as it was called at the time. The Minister presided over five ECOFIN meetings during the Presidency. There is one important line at the end of the five-page statement on potential retroactive application of the instrument. It has to be by mutual agreement and it must be on a case-by-case basis. We know that this...
- Leaders' Questions (4 Jul 2013)
Pearse Doherty: Four or five months down the road.
- Order of Business (4 Jul 2013)
Pearse Doherty: The Tánaiste referenced very important legislation coming before the House today. This is the Central Bank (Supervision and Enforcement) Bill 2011. I commend the Minister for Finance on his openness to accepting amendments. Given the discussion we had, what does it really mean? We can give all the powers we want to the regulator but the Government is unwilling to ask a public...
- Order of Business (4 Jul 2013)
Pearse Doherty: What is the point of this Bill if we have a Government that is unwilling to lift the phone to a former Minister for Finance? He was paid by the State to be a public interest director for the past four years.
- Order of Business (4 Jul 2013)
Pearse Doherty: Does it not send out a negative signal about the Bill, which is an important and good Bill?
- Order of Business (4 Jul 2013)
Pearse Doherty: We should try to tighten up enforcement and regulation in the banks.
- Order of Business (4 Jul 2013)
Pearse Doherty: Will the Tánaiste lift the phone and ask the public interest director? This did not happen five years ago. Up to five months ago the public interest directors did not inform the Central Bank-----
- Order of Business (4 Jul 2013)
Pearse Doherty: -----of potential regulatory breaches of which they were in charge.
- Order of Business (4 Jul 2013)
Pearse Doherty: The Government is refusing to contact the banks because it is protecting the political elite-----
- Order of Business (4 Jul 2013)
Pearse Doherty: A former leader of Fine Gael, a former Minister for Finance, and a former Fianna Fáil Senator are on the board of a State-owned bank which did not inform the Central Bank of potential regulatory breaches up until five months ago.
- Order of Business (4 Jul 2013)
Pearse Doherty: It is absolutely disgraceful. We do not need an inquiry to find out this information.