Results 11,601-11,620 of 19,445 for speaker:Brian Cowen

Leaders' Questions (11 Feb 2009)

Brian Cowen: ——which is equivalent to six months remuneration plus an additional two months salary to the former chief executive. That is the decision of the regulatory authority in regard to that particular matter.

Leaders' Questions (11 Feb 2009)

Brian Cowen: I make the point that we are in a very serious situation that must be handled calmly. Anger alone, while understandable and justifiable in many respects in terms of the history behind all of this, will not be the solution to the problem. Action is needed.

Leaders' Questions (11 Feb 2009)

Brian Cowen: The Government is determined to take that action during the course of today as part of an ongoing response to ensuring we maintain stability in our banking system at a very difficult time internationally and domestically.

Leaders' Questions (11 Feb 2009)

Brian Cowen: May I answer the question? The new board of Anglo Irish Bank obviously took a view in regard to this question. Investigations are being conducted of foot of this and that process must be given the opportunity to go through its various stages, which is being done. The investigations are ongoing in regard to that matter.

Leaders' Questions (11 Feb 2009)

Brian Cowen: On the other question regarding the capitalisation of the bank, we are seeking to ensure there is additional credit over and above what was provided last year for business. We made that point in the policy statement we issued in December, calling for a greater amount of money to be made available for first-time buyers and people who wish to take out mortgage commitments. This has been part...

Leaders' Questions (11 Feb 2009)

Brian Cowen: I absolutely refute the suggestion put by Deputy Gilmore — it is without foundation — that he finds it unbelievable the Government was not aware of these loans. I was not aware of these arrangements.

Leaders' Questions (11 Feb 2009)

Brian Cowen: In fact, the board of directors of the bank was not aware of these arrangements. It seems to me that not all members of the board of the bank were aware of those arrangements.

Leaders' Questions (11 Feb 2009)

Brian Cowen: The point is——

Leaders' Questions (11 Feb 2009)

Brian Cowen: The Anglo Irish Bank, which is the bank to which the Deputy referred.

Leaders' Questions (11 Feb 2009)

Brian Cowen: It is similar with Irish Life & Permanent. I wish to make the position very clear, in case the Deputy seeks to start throwing innuendo to me.

Leaders' Questions (11 Feb 2009)

Brian Cowen: The Deputy sought information and then decided it would be unbelievable if I gave a certain answer. The answer is very straightforward.

Leaders' Questions (11 Feb 2009)

Brian Cowen: Of course I had no knowledge of any untoward goings on between Irish Life & Permanent and the Anglo Irish Bank. The decisions made on 30 September were in the interests of maintaining stability in the banking system and the economy, based on advice from the Governor of the Central Bank, the regulatory authorities and the Department of Finance, and from no other source. I wish to make that...

Leaders' Questions (11 Feb 2009)

Brian Cowen: I simply made the point that when we became aware on the basis of the due diligence that was being conducted as a result of the recapitalisation programme policy statement announced, it obviously had to be taken on board by the regulatory authorities——

Leaders' Questions (11 Feb 2009)

Brian Cowen: ——and by the Office of the Director of Corporate Enforcement. I can provide a time and date for the Deputy.

Leaders' Questions (11 Feb 2009)

Brian Cowen: However, it was not on 30 September as suggested by this Deputy. This Deputy is trying to suggest——

Leaders' Questions (11 Feb 2009)

Brian Cowen: The Deputy is trying to suggest something which is simply untrue.

Leaders' Questions (11 Feb 2009)

Brian Cowen: I wish to make clear that the decisions made on these matters were totally on the basis of what was in the public interest at all times, and for no other reason.

Leaders' Questions (11 Feb 2009)

Brian Cowen: The suggestion was made to the contrary that on 30 September there was some knowledge available to the Government. The Deputy suggested it would be unbelievable if I were to suggest that knowledge was not available to the Government. It certainly was not.

Leaders' Questions (11 Feb 2009)

Brian Cowen: I have made it clear——

Leaders' Questions (11 Feb 2009)

Brian Cowen: The position is there was no knowledge available to the Government concerning the guarantee scheme we made. That was an important decision. These were banks of systemic importance. We were advised at official level that the scheme should be brought into play and that was done. It brought stability to the banking system and improved the situation considerably. In fact other Governments...