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European Debt: Motion (Resumed) [Private Members] (4 Feb 2015)

Pearse Doherty: I am glad to be in a position to support the motion proposed by the Technical Group and co-signed by Sinn Féin Members. It is a sensible and timely motion that Ireland would support the call for a debt conference. Somebody in my office brought to my attention the headline in one of our newspapers about the Minister, Deputy Noonan, saying he broadly supported the concept of a debt...

Written Answers — Department of Finance: Home Repossession (4 Feb 2015)

Pearse Doherty: 12. To ask the Minister for Finance the measures he will bring forward to prevent banks moving to repossess family home before all other solutions have been exhausted; and if he will make a statement on the matter. [4655/15]

Written Answers — Department of Finance: European Central Bank (4 Feb 2015)

Pearse Doherty: 18. To ask the Minister for Finance the way the ECB’s quantitative easing programme will be implemented by the Central Bank of Ireland and the ECB; and if he will make a statement on the matter. [4653/15]

Written Answers — Department of Finance: Water Conservation Grant (4 Feb 2015)

Pearse Doherty: 26. To ask the Minister for Finance his views that the EU Commission water conservation grant amounts to an Exchequer transfer to Irish Water and the implications a similar finding from EUROSTAT would have on his budgetary plans. [4651/15]

Written Answers — Department of Finance: Tax Code (4 Feb 2015)

Pearse Doherty: 28. To ask the Minister for Finance the way the planned tax cuts in 2016 announced by him will be in line with the expenditure benchmark and the Stability and Growth Pact. [4652/15]

Written Answers — Department of Jobs, Enterprise and Innovation: IDA Site Visits (5 Feb 2015)

Pearse Doherty: 151. To ask the Minister for Jobs, Enterprise and Innovation to detail the number of sponsored site visits by enterprise agencies to counties Cavan and Monaghan in each of the past seven years by each of the agencies; the number of these that were successful; and if he will make a statement on the matter. [5210/15]

Written Answers — Department of Jobs, Enterprise and Innovation: IDA Site Visits (5 Feb 2015)

Pearse Doherty: 152. To ask the Minister for Jobs, Enterprise and Innovation if he will provide, in tabular form, the number of jobs created in each of the past seven years in enterprise agency-supported companies in counties Cavan and Monaghan; the number of jobs lost in each of the past seven years in enterprise agency-supported companies in counties Cavan and Monaghan; and if he will make a statement...

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Pearse Doherty: Cuirim fáilte roimh an tOllamh Black chun an coiste. I welcome Professor Black. We are short on time and, as he can see, we have a very strict Chair. I will delve straight into an article Professor Black wrote in 2009 entitled “Those Who Forget the Regulatory Successes of the Past are Condemned to Failure”. He presents in it a model of how to build an effective...

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Pearse Doherty: I need to move on to another question as my time will run out. In his opening statement Professor Black talked about the ultra concentration of commercial lending is a tell to use poker analogy. He said that is a characteristic in the rapid model of growth. In relation to the ultra concentration of assets of other witnesses, we have had various reports done on behalf of the Irish...

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Pearse Doherty: Professor Black said a rolling loan gathers no loss.

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Pearse Doherty: You have proven that you are more than a banker. With regard to rolling loans and a stagnant commercial property market, where there is a downturn in commercial property sales and investment but a bank's loan book to commercial developers keeps growing, is that a tell? Whether it is or not, what should the reaction be?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Pearse Doherty: Cuirim fáilte roimh Mr. Nava. I ask him to clarify the role of the Commission and the minimum requirements set for member states. Is it correct that the Commission sets the minimum standards through the process Mr. Nava outlined earlier? When the minimum standards were applied they were transposed into national law and the Commission stood back and did not check whether those minimum...

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Pearse Doherty: Would it be correct to say at that stage the Commission washed its hands with regard to the application of the minimum standards?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Pearse Doherty: Did the Commission stand off? It had no other involvement in the application of the minimum standards once they were transposed and it had been assured they had been transposed accurately into national law.

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Pearse Doherty: What were the minimum standards in 2008 and 2009? What was the core tier 1 ratio for risk-rated assets at that stage? What was the percentage?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Pearse Doherty: Does the European Commission have a role in approving capital injections for banks under EU state rules?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Pearse Doherty: It had to approve capital injections. More specifically on the request to inject capital into Anglo Irish Bank in January 2009, when the Irish Government informed the European Commission that Anglo Irish Bank was capitalised above the 8% rule, did the Commission have no obligation to check whether that was accurate?

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Pearse Doherty: I have looked at the European Commission's website regarding the letter sent to it on 14 January by the then Minister for Foreign Affairs, Deputy Martin, which stated that the regulator assured that Anglo Irish Bank was capitalised above the minimum rates. I appreciate this was a competition issue, but regarding the division Mr. Nava heads up, is it correct that there was no requirement to...

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Pearse Doherty: I appreciate that.

Committee of Inquiry into the Banking Crisis: Context Phase (5 Feb 2015)

Pearse Doherty: I wish to clarify this. Mr. Nava's department deals with regulation. The request by the Irish State sought approval for the guarantee, which the Commission approved in mid-October. Is it correct that the request for all of the capitalisations of the banks, which would have been approved by the Commission, did not need input from the department Mr. Nava heads up?

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