Results 5,981-6,000 of 40,550 for speaker:Joan Burton
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Joan Burton: I agree. If the Minister has the power to be advised by the Central Bank and we will move into a new regime where we will all be more sensible about our financial affairs, what does he say to the ordinary saver who is receiving a redundancy lump sum, retirement lump sum and so on? These sums are individually small, but they constitute an enormous and important reserve for the Irish banking...
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Joan Burton: Hence my reference to Iceland, the most extreme example.
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Joan Burton: Credit unions operate the savings protection scheme. The Minister said that they have some â¬13 billion in deposits at various credit unions. He suggested he might exempt some credit unions, on a selected basis and perhaps only smaller ones, from the requirements of this. Can the Minister clarify that this is what he said? Is the savings protection scheme of the Irish League of Credit...
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Joan Burton: The â¬25,400 figure as applied from the 0.2% rate would suggest a total deposits figure of â¬12.7 million.
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Joan Burton: The issue is with small credit unions.
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Joan Burton: The Minister will publish a separate schedule of regulations dealing with credit unions.
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Joan Burton: What is the Minister's timeframe for bringing the credit unions into this structure?
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Joan Burton: In the case of a run on a bank in which it became necessary to use the fund to protect one institution, if that institution subsequently collapsed would the other institutions have to meet the deficit in the fund or will the Government step in with other mechanisms to limit runs on banks?
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Joan Burton: This section deals with penalties for offences under this Bill in which a bank, acting in a quasi-fraudulent or risky way and of which there have been many examples, puts deposits at risk. The penalties comprise, on summary conviction, a fine not exceeding â¬5,000 or imprisonment for a term not exceeding 12 months, and, on conviction on indictment, a fine not exceeding â¬250,000 or...
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Joan Burton: The point is about proportionality with other offences on the Statute Book. Last week, the House held a harrowing debate on the Residential Institutions Redress Act and whoever drafted that Act provided extraordinarily severe penalties for breaches of confidentiality in respect of people's own personal circumstances and the awards they received. This legislation goes to the heart of...
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Joan Burton: However, they will not apply. The Minister should tell the House whether anyone has been taken up under such legislation. Has anyone been convicted or taken to court under such legislation?
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Joan Burton: I wish to ask the Minister one question on this section and the Schedule to the Bill. The Minister should outline how the deposit guarantee scheme relates to the Minister's proposal to allow the extension of the bank guarantee under the Credit Institutions (Financial Support) Act 2008 and the proposal to extend it indefinitely by ministerial order under legislation that will be debated next...
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Joan Burton: I will repeat a question that has been asked of the Minister previously. In advance of next week's debate, can he provide Members with an analysis of exactly what he means? Members have held arcane debates in the House about exactly what is covered by the guarantee. While I do not wish to reopen the issue of bondholders, the Minister is aware there are many ways of defining bondholders,...
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Joan Burton: I know that. I refer to a potential roll-over.
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Joan Burton: The point is that Members are aware that various institutions, namely, Anglo Irish Bank and Irish Nationwide in particular, as well as all the other covered institutions, have maturity dates on certain types of debt that will expire after a period and they will renew or roll over that debt. I assume the Minister intends to extend the guarantee to some of it on its renewal.
- Unemployment Levels: Motion (Resumed) (17 Jun 2009)
Joan Burton: On behalf of the Labour Party, I want to thank everyone who contributed to the debate, including Sinn Féin and in particular my colleague Deputy Willie Penrose for tabling the motion. Recovery in terms of the economy and Irish society is about jobs - retaining and creating them - and about creating pathways for people who have become unemployed to retrain, upskill and get work experience....
- Written Answers — Inland Waterways: Inland Waterways (17 Jun 2009)
Joan Burton: Question 42: To ask the Minister for Community, Rural and Gaeltacht Affairs the mileage of non-navigable canal here; the geographical areas where such exists; his plans to address this issue; and if he will make a statement on the matter. [23847/09]
- Written Answers — Youth Services: Youth Services (17 Jun 2009)
Joan Burton: Question 70: To ask the Minister for Community, Rural and Gaeltacht Affairs the number of community based youth initiative measures that have been funded in each of the past two years under the local development social inclusion programme; the number of participants in the areas in which funding was provided; the average funding provided to each project; and if he will make a statement on...
- Order of Business (18 Jun 2009)
Joan Burton: On that, we have had five guillotines this week. I want to lay down a marker as regards the seven proposed guillotines in next week's business, in particular in relation to the Financial Services (Miscellaneous Provisions) Bill, for which the Government has provided at the most three hours for the entire Bill, including Second Stage, Committee and Report Stages. This includes the right of...
- Order of Business (18 Jun 2009)
Joan Burton: -----is going to hang like a millstone around the necks of future generations and give the Minister power over something like â¬60 billion of an increase in the national debt.