Results 761-780 of 6,295 for speaker:Michael D'Arcy

Seanad: Insurance (Amendment) Bill 2011: Second Stage (15 Sep 2011)

Michael D'Arcy: The reason we are in this position is there was no regulation. The former regulator was freewheeling and business was conducted as the company saw fit. As the Senator will note, the 2009 figures for Quinn Insurance show a loss of €905 million, there was a loss of €160 million in 2010 and the loss for 2011 is as yet unknown. That is why we are here. That is why we are passing...

Seanad: Insurance (Amendment) Bill 2011: Second Stage (15 Sep 2011)

Michael D'Arcy: As a cheerleader for the previous Government, the Senator stood up for it on national radio and television time and again.

Seanad: Insurance (Amendment) Bill 2011: Second Stage (15 Sep 2011)

Michael D'Arcy: As I said, Senator Byrne was a primary cheerleader for the previous Government in the other Chamber. We are here as a result of €280 million being required for the insurance compensation fund. Capitalism in Ireland is unique; when a company makes a profit, it pays corporation tax and the dividend is paid, in whatever form, to the directors or shareholders, but when it makes a loss, it is...

Seanad: Insurance (Amendment) Bill 2011: Committee and Remaining Stages (15 Sep 2011)

Michael D'Arcy: On Tuesday, 20 September at 2.30 p.m.

Seanad: European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011: Second Stage (22 Sep 2011)

Michael D'Arcy: It is no pleasure to discuss this Bill, but we are doing so because of the position in which we find ourselves. Much of that position is self-inflicted. Senator Byrne was part of the infliction when his party was in government. He voted for his Government's appalling decisions. We must consider some of the facts that are relevant to the context of our being here today. The euro has been a...

Seanad: European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011: Second Stage (22 Sep 2011)

Michael D'Arcy: The Taoiseach, Tánaiste and Minister for Finance have been travelling to re-establish diplomatic ties with countries with which diplomatic relations have failed. We now have friends again in Europe and that is a result of six to eight months of very hard negotiations.

Seanad: European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011: Second Stage (22 Sep 2011)

Michael D'Arcy: It should be noted that this work is not easily measured but it should be stated clearly-----

Seanad: European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011: Second Stage (22 Sep 2011)

Michael D'Arcy: -----that it is bringing us forward and putting us in a position where we are obtaining a result rather than a bad negotiating position.

Seanad: European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011: Second Stage (22 Sep 2011)

Michael D'Arcy: Now.

Seanad: European Financial Stability Facility Bill and Euro Area Loan Facility (Amendment) Bill 2011: Committee and Remaining Stages. (22 Sep 2011)

Michael D'Arcy: It is positive that we have reached the conclusion of the debate. I agree with other Members that legislation should not be concluded in one day. It is difficult to complete analysis of Bills to ensure there are no loopholes in them. Our role is to scrutinise legislation. This has happened twice in the past week but I do not know if anything could have been done in the context of...

Seanad: European Financial Stability Facility Bill and Euro Area Loan Facility (Amendment) Bill 2011: Committee and Remaining Stages. (22 Sep 2011)

Michael D'Arcy: Absolutely. I heard the discussion about an orderly exit. If that has to happen, legislation will be debated in the House and it will get a good hearing. I thank the Minister of State. I have been critical of the Department of Finance in the past but its officials have upped their game and I anticipate they will continue in that vein.

Seanad: European Financial Stability Facility Bill and Euro Area Loan Facility (Amendment) Bill 2011: Committee and Remaining Stages. (22 Sep 2011)

Michael D'Arcy: Down from 14%.

Seanad: European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011: Earlier Signature Motion (22 Sep 2011)

Michael D'Arcy: I move: That pursuant to subsection 2° of section 2 of Article 25 of the Constitution, Seanad Éireann concurs with the Government in a request to the President to sign the European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011 on a date which is earlier than the fifth day after the date on which the Bill shall have been presented to her.

Seanad: Statements on Finance (6 Oct 2011)

Michael D'Arcy: I welcome the Minister to the Chamber. Sometimes I wonder whether Senator Darragh O'Brien was in the same place I was, watching the calamity I was watching.

Seanad: Statements on Finance (6 Oct 2011)

Michael D'Arcy: I have a number of questions to ask. When we look back and wonder how we got to this place, it is clear that it is from the calamitous decisions made by the previous Government. I am sorry, Senator O'Brien, but there are no two ways about it. We see that the Sinn Féin policies are more akin to voodoo economics than any version of real economics. The Minister's time at the Department of...

Seanad: Statements on Finance (6 Oct 2011)

Michael D'Arcy: A Greek tragedy.

Seanad: Statements on Finance (6 Oct 2011)

Michael D'Arcy: Will the Minister allow sufficient time to people who may choose to leave the public service so that they will have sufficient time to leave prior to any changes in the budget arithmetic which may impact upon their pension? I refer to the proposal from President Sarkozy and Chancellor Merkel for a constitutional law in each of the eurozone countries in order to extend borrowing beyond a...

Seanad: Statements on Finance (6 Oct 2011)

Michael D'Arcy: I wish to point out they did not take the opportunity to speak on questions.

Seanad: Statements on Finance (6 Oct 2011)

Michael D'Arcy: His party should have picked the previous regulator properly.

Seanad: Statements on Finance (6 Oct 2011)

Michael D'Arcy: Has the Minister any information on people who are about to retire on pension, either before or after the budget?