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Education and Training Boards Bill 2012: Second Stage (Resumed) (17 Oct 2012)

Peter Mathews: The Deputy has two minutes remaining.

Education and Training Boards Bill 2012: Second Stage (Resumed) (17 Oct 2012)

Peter Mathews: I understand that Deputy Joe O'Reilly is sharing time with Deputies Paul J. Connaughton and Patrick O'Donovan. Deputy O'Reilly will have ten minutes and the others will have five minutes each. We might have reached the sos by the time Deputy O'Reilly concludes.

Written Answers — Department of Public Expenditure and Reform: Environmental Schemes (17 Oct 2012)

Peter Mathews: To ask the Minister for Public Expenditure and Reform the action he is taking to address a recycling centre issue (details supplied) in County Dublin; and if he will make a statement on the matter. [45057/12]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Peter Mathews: We have already asked them those questions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Peter Mathews: It is a forced arrangement.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Peter Mathews: I am not commenting. I am just stating a fact.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Peter Mathews: It was correct.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Peter Mathews: I remind the Minister that this time last year-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Peter Mathews: If I leave, I will come back.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Peter Mathews: I am like a piece of cork; I bounce back.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Peter Mathews: I thank the Minister for all of his work. He knows that I am behind him.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Peter Mathews: Everyone else got a preamble.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Peter Mathews: This is the first anniversary of my mention of the paper by Messrs. Cecchetti, Mohanty and Zampolli, which was produced to the central bankers of the OECD countries in Wyoming in August 2011. It was a seminal paper, but only now are the leaders of Europe waking up to it. The paper asserts that the three elements of debt in an economy - sovereign debt, household debt and non-financial...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Peter Mathews: Will the Taoiseach ask the German Chancellor, Angela Merkel whether she understands that instead of imposing the prohibitive and delaying tactic of setting up a European cental monetary banking situation, dealing with the legacy debt in banking systems, particularly Ireland's, is an imperative? She is doing everything to delay what needs to be done. Deutsche Bank, Germany's largest bank,...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Peter Mathews: Today and tomorrow, the main imperative is to address Chancellor Merkel and the leaders of those countries that will remain the economically strongest until their household debt and non-financial debt drifts into sovereign debt, as could happen with Deutsche Bank. The acclaimed professor of finance at MIT, Professor Simon Johnson, has examined this situation and believes it is at tipping...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Peter Mathews: Our economy does not have a hope. I will use an analogy so that people might understand. If I as a human being am an economy with an arm, a leg and another arm, namely, household debt, national debt and corporate debt, and if people are telling me that the national debt is sustainable while ignoring the smashed condition of the household debt and the non-financial corporate debt, this body...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Peter Mathews: We have €64 billion of odious debt.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: 2013 Allocations for Public Expenditure - Finance Vote Group: Discussion with Minister for Finance (17 Oct 2012)

Peter Mathews: Will the Minister take on my debts?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Public Expenditure and Reform Vote: Discussion with Minister for Public Expenditure and Reform (17 Oct 2012)

Peter Mathews: I thank the Minister for his presentation and will start with the positive points. I congratulate him and his team on the productivity achieved, including the 7% reduction in salaries and the 7% pensions adjustment, which together amount to a reduction of 14%. We have to do this kind of housekeeping. The first half of the conversation today was with the Minister's colleague and mine, the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Public Expenditure and Reform Vote: Discussion with Minister for Public Expenditure and Reform (17 Oct 2012)

Peter Mathews: This is not about egos. I want to forget about the partisan politics of the past. Let us all forget about it; the matter is too serious to do otherwise. Tomorrow and Friday the big artillery will be needed at the European Council. That is where we will need to give barrels of information and truth to Mrs. Merkel, Mr. Schäuble and Mr. Weidmann, the president of the Deutsche...

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