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Seanad: Order of Business (25 Jun 2013)

John Gilroy: I have two points to make regarding the controversy in the media surrounding Anglo Irish Bank. Of course, I agree with Senator Darragh O'Brien that we should be responsible in what we say. There is no question about that. However, when ordinary people on our streets and in workplaces, pubs, homes, the media and talk shows are discussing the recent revelations with particular outrage, one...

Seanad: Health (Amendment) Bill 2013: Committee and Remaining Stages (25 Jun 2013)

John Gilroy: I wish to comment on the call of the Minister of State for some proportionality. The language being used by my colleague and friend is the most extreme one could find. The health service is about health service provision and confidence in our health service. To say draconian cuts, privatisation and all sorts of other terrible things are happening is irresponsible. When we were in...

Seanad: Order of Business (26 Jun 2013)

John Gilroy: Senator Mullen should say that to the Taoiseach.

Seanad: Order of Business (26 Jun 2013)

John Gilroy: I rise today to support the concern expressed by my colleagues, Senators Higgins and Paul Coghlan, at the proposed establishment of an Oireachtas inquiry into the recent revelations. This is a matter not only of social justice but of public confidence. Not too many in this country can have much confidence in a system of Oireachtas inquiries or tribunals which finds a Member of the other...

Seanad: Register of Lobbyists Legislation: Motion (26 Jun 2013)

John Gilroy: What about former Members?

Seanad: Register of Lobbyists Legislation: Motion (26 Jun 2013)

John Gilroy: I welcome the Minister of State to the House. I wish to comment on the Government amendment to this worthwhile Private Members' motion. I am very disappointed; I will not put a tooth in it. We commend ourselves, we endorse ourselves, we strongly support ourselves and we look forward to ourselves. It is an insult to the work done on this commendable Bill by the Independent Senators. I...

Seanad: Order of Business (27 Jun 2013)

John Gilroy: Did Mr. Morton say that? Will the Senator provide a reference for that statement?

Seanad: Order of Business (27 Jun 2013)

John Gilroy: In light of the ongoing revelations in the media about Anglo Irish Bank I call on the Leader to contact the Minister for Finance with a view to setting up an inquiry into one particular element of the story which is in danger of being overlooked. We know that the revelations are the most blatant and obvious demonstration of the arrogance, hubris and, I contest, criminality that took place in...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (27 Jun 2013)

John Gilroy: I have a specific question on this section. There was a peculiar case in 2007 where a whistleblower in UniCredit Bank in the IFSC allegedly reported alleged breaches of liquidity ratios. However, when he pursued it, it was discovered that, as the person responsible for ensuring the liquidity ratios were as they were, he, himself, faced criminal sanction. Will this section remove such a...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (27 Jun 2013)

John Gilroy: Like my colleague Senator Barrett, I would like longer to reflect on the section and to return on Report Stage. The complexity of the management structures of some of the financial institutions and the sheer dishonesty of the attitudes in them requires us to give this matter more deep thought in the House. When Senator Barrett returns with an amendment on Report Stage, I may be inclined to...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (27 Jun 2013)

John Gilroy: I have a specific question on this section. There was a peculiar case in 2007 where a whistleblower in UniCredit Bank in the IFSC allegedly reported alleged breaches of liquidity ratios. However, when he pursued it, it was discovered that, as the person responsible for ensuring the liquidity ratios were as they were, he, himself, faced criminal sanction. Will this section remove such a...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (27 Jun 2013)

John Gilroy: Like my colleague Senator Barrett, I would like longer to reflect on the section and to return on Report Stage. The complexity of the management structures of some of the financial institutions and the sheer dishonesty of the attitudes in them requires us to give this matter more deep thought in the House. When Senator Barrett returns with an amendment on Report Stage, I may be inclined to...

Seanad: Order of Business (Resumed) (2 Jul 2013)

John Gilroy: And the Constitution.

Seanad: Order of Business (Resumed) (2 Jul 2013)

John Gilroy: And the Supreme Court.

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Report and Final Stages (2 Jul 2013)

John Gilroy: That is out of order.

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Report and Final Stages (2 Jul 2013)

John Gilroy: Senator Sean D. Barrett makes a very good case in regard to transparency or the lack thereof in the financial services sector. We would do well, however, to note that a lack of transparency is not confined to the actors in the financial market. There seems to be a certain lack of transparency within the Central Bank and certainly the Department of Finance. On Committee Stage I referred to...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Report and Final Stages (2 Jul 2013)

John Gilroy: We acknowledged on Committee Stage that the Minister had accepted quite a few Opposition amendments from the Dáil. This is a technical and complex piece of legislation. I acknowledge the significant work on the Bill on the part of Senators Barrett and Darragh O'Brien, Michael D'Arcy and also myself, if I may say so. The Seanad has proved its worth in this regard. Our colleagues in...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Report and Final Stages (2 Jul 2013)

John Gilroy: In spite of the fine words, our great qualities will not be sufficient to save us.

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Report and Final Stages (2 Jul 2013)

John Gilroy: That is out of order.

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Report and Final Stages (2 Jul 2013)

John Gilroy: Senator Sean D. Barrett makes a very good case in regard to transparency or the lack thereof in the financial services sector. We would do well, however, to note that a lack of transparency is not confined to the actors in the financial market. There seems to be a certain lack of transparency within the Central Bank and certainly the Department of Finance. On Committee Stage I referred to...

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