Results 6,381-6,400 of 15,555 for speaker:Eoghan Murphy

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Single Resolution Board (Loan Facility Agreement) Bill 2016: Committee Stage (7 Jul 2016)

Eoghan Murphy: It would be treated as a loan to the fund to be repaid to us with interest within two years. The interest would depend on market rates at the time. We would recoup the money that way. The expenditure benchmark is calculated over a ten-year period, which runs from five years previous to the current year to four years after the end of the current year. The loan would be repaid with interest...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Single Resolution Board (Loan Facility Agreement) Bill 2016: Committee Stage (7 Jul 2016)

Eoghan Murphy: I do not believe it would impact on the debt to GDP ratio and I do not see how it could impact on it.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Single Resolution Board (Loan Facility Agreement) Bill 2016: Committee Stage (7 Jul 2016)

Eoghan Murphy: It would also depend on from where the funds being made available for the loan were allocated.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Single Resolution Board (Loan Facility Agreement) Bill 2016: Committee Stage (7 Jul 2016)

Eoghan Murphy: That would not be the case if the loan was classified as an asset, in other words, if it was classified as a loan on which repayments were being made with interest.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Single Resolution Board (Loan Facility Agreement) Bill 2016: Committee Stage (7 Jul 2016)

Eoghan Murphy: Again, it would depend on the amount and way in which the loan was made available, including from where the allocation has been made.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Single Resolution Board (Loan Facility Agreement) Bill 2016: Committee Stage (7 Jul 2016)

Eoghan Murphy: As Deputy D'Arcy states, it is an issue of classification in so far as how the loan would be classified on the State's balance sheet. Would it be classified as a debt or an asset, depending on from which stream the money comes? Ideally, one would not want to take it on to the debt position or stock of debt of the State. Again, we are discussing a scenario in which things have got pretty...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Single Resolution Board (Loan Facility Agreement) Bill 2016: Committee Stage (7 Jul 2016)

Eoghan Murphy: I will certainly be able to speak to that issue on Report Stage. It could be still classified potentially as a loan from the NTMA without having any effect on our debt balance because the agency has cash reserves.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Single Resolution Board (Loan Facility Agreement) Bill 2016: Committee Stage (7 Jul 2016)

Eoghan Murphy: It would depend again on the circumstances but I will be able to speak to the classification on Report Stage if that helps clarify the matter.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Single Resolution Board (Loan Facility Agreement) Bill 2016: Committee Stage (7 Jul 2016)

Eoghan Murphy: That is precisely the issue. Given that we are discussing hypothetical and extreme cases, it is difficult to answer the Deputy's specific questions.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Single Resolution Board (Loan Facility Agreement) Bill 2016: Committee Stage (7 Jul 2016)

Eoghan Murphy: That will not be a problem.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Single Resolution Board (Loan Facility Agreement) Bill 2016: Committee Stage (7 Jul 2016)

Eoghan Murphy: I move amendment No. 9:In page 5, lines 9 and 10, to delete "Single Resolution Board (Loan Facility Agreement) Act 2016" and substitute "Finance (Certain European Union and Intergovernmental Obligations) Act 2016".

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Single Resolution Board (Loan Facility Agreement) Bill 2016: Committee Stage (7 Jul 2016)

Eoghan Murphy: I move amendment No. 10:In page 3, to delete lines 6 to 14 and substitute the following:“An Act to— (a) make provision in relation to an agreement that is to be entered into between the Single Resolution Board and the State concerning the lending of sums by the State to the Single Resolution Board in circumstances where, after disposal of the latter’s funds in the manner...

Financial Emergency Measures in the Public Interest: Statements (8 Jul 2016)

Eoghan Murphy: My colleague, the Minister, Deputy Donohoe, clearly outlined the international headwinds our economy is facing into and how it is necessary to take tough decisions, such as the continuation of the FEMPI legislation, so that we do not gamble with our economic recovery. In closing this debate, I want to firmly link international and national developments to show that our stance on FEMPI is...

Seanad: Public Procurement: Statements (12 Jul 2016)

Eoghan Murphy: This is my first time appearing in the Seanad and it is a privilege to be here. I look forward to this evening's debate. I am delighted to have this opportunity to address the Seanad this evening as public procurement is a key part of my portfolio and an integral part of the Government’s overall reform agenda. The main focus of this reform has been to deliver better value for the...

Seanad: Public Procurement: Statements (12 Jul 2016)

Eoghan Murphy: I thank Senators for their contributions and congratulations. I very much appreciate it. The Office of Government Procurement is a big part of my brief and an important arm of the State, as it was described by one Senator. There is much we can do with it so I wanted to make sure that we could have a proper debate here to hear everyone's opinions and thoughts and to work together in that...

Seanad: Commencement Matters: Motor Insurance (14 Jul 2016)

Eoghan Murphy: I thank the Senator for raising this issue. I welcome the opportunity to discuss in the Seanad the important matter of the cost of insurance and to highlight the actions the Government is currently taking to address the issues. An adequately reserved, cost-competitive insurance sector is a vital component of economic activity and financial stability. The current high cost of insurance is a...

Seanad: Commencement Matters: Motor Insurance (14 Jul 2016)

Eoghan Murphy: The work that will be undertaken on insurance costs fits with the programme for Government commitment to a fairer country and a fairer society in Ireland. I know that is what at the core of the Senator's motivation in raising this issue. Certain groups of people are particularly affected by the increase in insurance costs. I can assure the Senator that the working group, which I will...

Seanad: Summer Economic Statement 2016: Statements (Resumed) (14 Jul 2016)

Eoghan Murphy: I am pleased to be here to discuss the summer economic statement. I thank Senators for their contributions which have been very constructive. The summer economic statement demonstrates that Ireland is moving further along the road to recovery. We have put the public finances on a sustainable footing and restored our competitiveness and are making significant progress in bringing the...

Standing Order 149: Motion (20 Jul 2016)

Eoghan Murphy: I move: That, in accordance with the recommendation of the sub-Committee on Dáil Reform under Standing Order 107(1)(a), the Standing Orders of Dáil Éireann relative to Public Business be amended in Standing Order 149 by the insertion of the following paragraphs:‘(3) The Committee Stage consideration of any Bill which falls within Articles 127(4) and 282(5) of the Treaty...

Standing Order 149: Motion (20 Jul 2016)

Eoghan Murphy: I thank Deputies for their contributions to the debate on this motion. In wrapping up the debate, it is essential that we acknowledge that the obligation to consult with the European Central Bank on matters in its field of competence is a legal requirement under the EU treaties. As legislators, we must abide by the laws of the land. In a wider sense, it is important that all draft...