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Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: European Stability Mechanism (Amendment) Bill 2014: Committee Stage (8 Oct 2014)

Pearse Doherty: I understand the hierarchy or waterfall system that will obtain when individuals will be bailed in, when money will have to be put up and when the relevant state or the ESM will intervene. However, my question relates to direct recapitalisation. Unless the Minister can provide some information to the contrary as a result of his discussions with his colleagues, there is no suggestion the...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: European Stability Mechanism (Amendment) Bill 2014: Committee Stage (8 Oct 2014)

Pearse Doherty: I am fully aware now that there are no modalities in place and that no rules will be set out until an application is made. It will be at that point that the rules will be established by the board of governors. I do not believe that is the best way to do business.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: European Stability Mechanism (Amendment) Bill 2014: Committee Stage (8 Oct 2014)

Pearse Doherty: I understand that. However, there should at least be some benchmark in respect of what we are discussing. There can be flexibility in the rules, but in the absence of any rule whatsoever, it could be viewed as a positive benefit if the relevant authorities could use their negotiating skills to their state's advantage. However, an absence of rules could also prove to be hugely detrimental.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: European Stability Mechanism (Amendment) Bill 2014: Committee Stage (8 Oct 2014)

Pearse Doherty: We are well aware of the guideline.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: European Stability Mechanism (Amendment) Bill 2014: Committee Stage (8 Oct 2014)

Pearse Doherty: The article refers to the "retroactive application of direct recapitalisation". We know what such recapitalisation means or we at least have a very good sense of it in terms of the structure and the point at which people step into the breach. It is very clear that the waterfall system is laid out in the guidelines. My original question was related to whether the retroactive application of...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: European Stability Mechanism (Amendment) Bill 2014: Committee Stage (8 Oct 2014)

Pearse Doherty: Anybody following these proceedings would be of the view that the game-changer would have been experienced in people's lives and not out in the markets. All of us on this committee understand the crucial importance of our being able to be back into the markets at low interest rates, but the game-changer paraded by the Government at the end of June was that there would be a game-changer in...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: European Stability Mechanism (Amendment) Bill 2014: Committee Stage (8 Oct 2014)

Pearse Doherty: On a case-by-case basis. I could be wrong but I would put money on it that the Minister at least asked his colleagues in Europe how they think this would apply to Ireland. We are not talking about millions or hundreds of millions but about tens of billions of euro. I am sure he has asked that question in the 24 or 28 months since that big game-changer, as he mentioned. I am sure as the...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: European Stability Mechanism (Amendment) Bill 2014: Committee Stage (8 Oct 2014)

Pearse Doherty: No, it is not. It is about how the retroactive recapitalisation instrument can apply and whether a report can be furnished.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: European Stability Mechanism (Amendment) Bill 2014: Committee Stage (8 Oct 2014)

Pearse Doherty: I am finishing up now.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: European Stability Mechanism (Amendment) Bill 2014: Committee Stage (8 Oct 2014)

Pearse Doherty: With the Chairman's indulgence I will withdraw amendments Nos. 1 and 2. I also must absent myself from the committee at this stage because those were the only amendments we had tabled. Is that procedurally acceptable?

Irish Collective Asset-management Vehicles Bill 2014: Second Stage (9 Oct 2014)

Pearse Doherty: Go raibh maith agat. Cuirim fáilte roimh an Aire Stáit agus é ag déileáil leis an mBille seo. Mar a dúradh, tá an rannóg seo, atá ag fostú 13,000 duine, iontach tábhachtach d'eacnamaíocht na tíre. Cibé leasuithe atá muid ag tabhairt isteach, tá sé tábhachtach go mbeidh siad siosmaideach agus ciallmhar...

Written Answers — Department of Agriculture, Food and the Marine: Fisheries Offences (9 Oct 2014)

Pearse Doherty: 76. To ask the Minister for Agriculture, Food and the Marine if he has received correspondence from the Irish Fish Processors and Exporters Association; his views on the correspondence received; the actions taken by his Department on foot of the correspondence; and if he will make a statement on the matter. [38626/14]

Written Answers — Department of Agriculture, Food and the Marine: Fisheries Protection (9 Oct 2014)

Pearse Doherty: 77. To ask the Minister for Agriculture, Food and the Marine his views on a submission received from Inver Traditional Inshore Fishermen’s Association on a review of management arrangements for mackerel and herring fishery in Inver Bay and surroundings by means of a ring net; his views on this submission; his plans to implement any of the proposals contained therein; and if he will...

Written Answers — Department of Health: Hospital Staff (9 Oct 2014)

Pearse Doherty: 131. To ask the Minister for Health his views on allocating a senior podiatrist to Letterkenny General Hospital, County Donegal, in the 2015 service plan; and if he will make a statement on the matter. [38629/14]

Written Answers — Department of Health: Medical Card Eligibility (9 Oct 2014)

Pearse Doherty: 132. To ask the Minister for Health the circumstances in which an allowance is given for life assurance in respect of a medical card application; and if he will make a statement on the matter. [38630/14]

Written Answers — Department of Health: Health Services (9 Oct 2014)

Pearse Doherty: 133. To ask the Minister for Health the reason only two places were available on the Health Service Executive sponsorship programme last year; his plans to increase these places next year; and if he will make a statement on the matter. [38631/14]

Written Answers — Department of Education and Skills: Student Grant Scheme Eligibility (9 Oct 2014)

Pearse Doherty: 189. To ask the Minister for Education and Skills the reason a person (details supplied) in County Donegal was refused a special rate of maintenance grant in view of the fact that the sole income coming into the house is jobseeker’s allowance; his views that refusal in this instance will cause hardship to the person; and if she will make a statement on the matter. [38624/14]

Written Answers — Department of Environment, Community and Local Government: Water and Sewerage Schemes Expenditure (9 Oct 2014)

Pearse Doherty: 213. To ask the Minister for Environment, Community and Local Government the amount his Department spent on the Gweedore sewerage scheme in 1990. [38546/14]

Written Answers — Department of Environment, Community and Local Government: Water and Sewerage Schemes Expenditure (9 Oct 2014)

Pearse Doherty: 214. To ask the Minister for Environment, Community and Local Government the amount his Department spent on the Gweedore sewerage scheme in 1991. [38547/14]

Written Answers — Department of Environment, Community and Local Government: Water and Sewerage Schemes Expenditure (9 Oct 2014)

Pearse Doherty: 215. To ask the Minister for Environment, Community and Local Government the amount his Department spent on the Gweedore sewerage scheme in 1992. [38548/14]

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