Results 941-960 of 27,019 for speaker:Michael Noonan
- Announcement by Minister for Finance on Banking of 30 September 2010: Statements (30 Sep 2010)
Michael Noonan: The changes with regard to the National Asset Management Agency are good. It was ridiculous that every debt above â¬5 million was the subject of transfer when all the main banks have large units trained to work out, with the banks' clients, the wind-down of debt that cannot be paid. A threshold of â¬20 million is much more reasonable. NAMA also made a mistake in responding to political...
- Announcement by Minister for Finance on Banking of 30 September 2010: Statements (30 Sep 2010)
Michael Noonan: Will it follow in the calendar year 2011 or is it after 12 months? It is not even the 2010 accounts yet, as far as I know. If it goes into the 2010 accounts is it only to the end of the year and will we be able to say in January 2011, to give confidence to the market, that the fiscal deficit is now down by 20%?
- Announcement by Minister for Finance on Banking of 30 September 2010: Statements (30 Sep 2010)
Michael Noonan: Provided there are no more injections.
- Announcement by Minister for Finance on Banking of 30 September 2010: Statements (30 Sep 2010)
Michael Noonan: I understand the Minister is treating the money going into Irish Nationwide in the same way. What way is the Minister treating the money going into AIB, for accountancy purposes? It seems it is an investment in a going concern.
- Announcement by Minister for Finance on Banking of 30 September 2010: Statements (30 Sep 2010)
Michael Noonan: It is an investment in a going concern?
- Announcement by Minister for Finance on Banking of 30 September 2010: Statements (30 Sep 2010)
Michael Noonan: So it would not be treated as national debt.
- Announcement by Minister for Finance on Banking of 30 September 2010: Statements (30 Sep 2010)
Michael Noonan: It would add to the total debt, would it not?
- Announcement by Minister for Finance on Banking of 30 September 2010: Statements (30 Sep 2010)
Michael Noonan: The Minister is using the pension fund.
- Announcement by Minister for Finance on Banking of 30 September 2010: Statements (30 Sep 2010)
Michael Noonan: The Minister might go through that again in his reply. The capital assessment of Anglo Irish Bank is a moving target and it has moved a lot since the day the Minister told us, when we nationalised it, that the outside hit would be â¬4.5 billion. I thought the Minister would have more certainty on the figure. There is considerable discretion in the range â¬29 to â¬34 billion. Why can the...
- Announcement by Minister for Finance on Banking of 30 September 2010: Statements (30 Sep 2010)
Michael Noonan: He briefs the Minister. The Minister has the information. The Regulator does not brief me. I am asking the Minister to explain why there is such discretion there. It will give continuing uncertainty in the market.
- Announcement by Minister for Finance on Banking of 30 September 2010: Statements (30 Sep 2010)
Michael Noonan: The Government is adopting another piece of Fine Gael policy. Does the Minister remember the number of times we asked when he would replace the directors of AIB? Does he remember our arguing that he should not have sanctioned an internal appointment to the role of chief executive but should have insisted on an outside person? I am glad he has moved to that position. However, when I last...
- Announcement by Minister for Finance on Banking of 30 September 2010: Statements (30 Sep 2010)
Michael Noonan: The same rules should apply to banks as apply in this House to Deputies who are earning far less and working much harder.
- Announcement by Minister for Finance on Banking of 30 September 2010: Statements (30 Sep 2010)
Michael Noonan: The Minister is a law-maker. Why not change the law?
- Fiscal Policy (30 Sep 2010)
Michael Noonan: Question 1: To ask the Minister for Finance the discussions he has had with the Governor of the Central bank regarding the Governor's comments, that a budgetary adjustment of greater than â¬3billion may be required to calm the bond markets; if he sees merit in the Governor's opinion; and if he will make a statement on the matter. [34222/10]
- Fiscal Policy (30 Sep 2010)
Michael Noonan: What target is the Minister aiming at for the budget on 7 December? His adjustment target of â¬3 billion is well known and he seems to have already achieved â¬1 billion of that through cuts in capital expenditure. What adjustments, either in tax or current expenditure, does he envisage in order to achieve the new target he implied this morning? Will he indicate what that target is?
- Fiscal Policy (30 Sep 2010)
Michael Noonan: I would have thought that once Brussels requires budgetary profiles for the next four budgets that the first step would be to set the targets and then fill in the profiles to achieve those targets. Is the Minister saying he does not know what the targets are but that his Department is working on the profiles? If that is the answer, perhaps he will tell us the level of detail Brussels...
- State Banking Sector (30 Sep 2010)
Michael Noonan: Question 3: To ask the Minister for Finance his latest estimate of the gross and net cost of the Anglo Irish Bank's restructured wind down; the time line to the conclusion of the wind down; and if he will make a statement on the matter. [34223/10]
- State Banking Sector (30 Sep 2010)
Michael Noonan: Why does the Minister consider it necessary to make transfers from the recovery bank to NAMA given the sole work of the recovery bank will be to work out the impaired assets? With the lifting of the ceiling from â¬5 million to â¬20 million this appears like the organisation of a big NAMA and a small NAMA, with assets being transferred from one to the other? This seems superfluous and is...
- State Banking Sector (30 Sep 2010)
Michael Noonan: When the Minister decided to establish the National Asset Management Agency, the Government's policy was to rescue Anglo Irish Bank to enable it to continue actively trading. Since then, the Government has changed its view on Anglo Irish Bank and has effectively organised it into two parts for a wind-down. The cost and work involved in transferring the toxic assets from the recovery bank...
- State Banking Sector (30 Sep 2010)
Michael Noonan: No, it goes right across the banking sector.