Results 13,181-13,200 of 19,445 for speaker:Brian Cowen

Leaders' Questions (10 Jun 2009)

Brian Cowen: No, it is not.

Leaders' Questions (10 Jun 2009)

Brian Cowen: The comments from Deputy Kenny, with respect, have been consistently irresponsible on this matter.

Leaders' Questions (10 Jun 2009)

Brian Cowen: We hold no brief for any bad governance in this bank and we have nationalised it as a matter of last resort. We will seek to ensure that it is restructured and will be leveraged over the coming period so that the exposure to the taxpayer is minimised and protected to the greatest extent possible.

Leaders' Questions (10 Jun 2009)

Brian Cowen: With regard to the capital injection of €4 billion by the Government, this was to help the bank's capital position to enable it to buy back certain debt instruments at less than their par value and which will help its capital position. This measure is similar to that announced by a number of banks. Details of the buy-back will be finalised in the coming weeks. The board is finalising a...

Leaders' Questions (10 Jun 2009)

Brian Cowen: I indicated to the Deputy it is important to point out that a capital injection of €4 billion into this bank was required in order to ensure that the capital position of the bank was such that it can continue until we can arrange for restructuring and can devise a new business plan for the bank. If the suggestion implied in-----

Leaders' Questions (10 Jun 2009)

Brian Cowen: I know that. I want to explain, as I am entitled to do. The Deputy suggested that we are simply-----

Leaders' Questions (10 Jun 2009)

Brian Cowen: I must be allowed answer the question.

Leaders' Questions (10 Jun 2009)

Brian Cowen: I wish to answer the question in the following way, if I may, because the suggestion was that there was €4 billion available to go into a bank which might have gone everywhere else. The suggestion was that we just decided to support a bank rather than supporting public services. The answer is that we have to support the financial system in this situation because the alternative of winding...

Leaders' Questions (10 Jun 2009)

Brian Cowen: It would be a far greater liability because the level of deposits in the bank are up to €64 billion. One must understand what the alternatives are in these situations. If the suggestion is, as some people have it, that we should let everyone swing and let the bank go that would leave the State open to a possible exposure of up to €60 billion. That is the situation and we could not...

Leaders' Questions (10 Jun 2009)

Brian Cowen: There is a great deal of irresponsible talk here, with respect, in order to make the populist contention that in respect of this bank we are trying to prefer powerful interests in banks rather than looking after the affairs of the country.

Leaders' Questions (10 Jun 2009)

Brian Cowen: We want to look after the affairs of the country and we need a financial system and a viable banking system to do so. All decisions we have taken with regard to all banking matters are, first, about protecting the exposure of the taxpayer to the greatest possible extent and ensuring we have a viable banking system for the future.

Leaders' Questions (10 Jun 2009)

Brian Cowen: Concerning the other question raised by Deputy Gilmore, I stated that €31 million of the total €4.3 billion for the half-year accounts was attributed to former directors.

Leaders' Questions (10 Jun 2009)

Brian Cowen: I made the point that two serving directors have loans from the bank.

Leaders' Questions (10 Jun 2009)

Brian Cowen: I also suggested, and the chairman has confirmed, that other senior staff at Anglo-Irish Bank have loans from the bank which are now impaired.

Leaders' Questions (10 Jun 2009)

Brian Cowen: If I had the information before me I would give it to the Deputies if it were in line with-----

Leaders' Questions (10 Jun 2009)

Brian Cowen: -----with banking terms. The chairman was before the Joint Committee on Finance and the Public Service yesterday and gave full information as far as he was in a position to provide it.

Leaders' Questions (10 Jun 2009)

Brian Cowen: I want to make it abundantly clear-----

Leaders' Questions (10 Jun 2009)

Brian Cowen: I am sorry. I am entitled to answer the question.

Leaders' Questions (10 Jun 2009)

Brian Cowen: I want to make it abundantly clear that the total amount in respect of that was €31 million of the €4.3 billion.

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Cowen: Hear, hear.