Results 14,921-14,940 of 50,453 for speaker:Micheál Martin

Promissory Notes: Statements (7 Feb 2013)

Micheál Martin: What the Government is claiming-----

Promissory Notes: Statements (7 Feb 2013)

Micheál Martin: -----for the deal cannot be taken at face value. We all knew that a deal was going to happen and that the Government would claim-----

Promissory Notes: Statements (7 Feb 2013)

Micheál Martin: Well, we did. We knew that the Government would claim it as a major development. I would make the point-----

Promissory Notes: Statements (7 Feb 2013)

Micheál Martin: It was, after all, the Minister, Deputy Rabbitte-----

Promissory Notes: Statements (7 Feb 2013)

Micheál Martin: It was the Minister, Deputy Rabbitte, who stated that the Government would not pay the debt like it did last year.

Promissory Notes: Statements (7 Feb 2013)

Micheál Martin: I would like to make the point-----

Promissory Notes: Statements (7 Feb 2013)

Micheál Martin: With respect, will the Taoiseach-----

Promissory Notes: Statements (7 Feb 2013)

Micheál Martin: The Government was always going to claim a victory and so forth, but that is not what concerns me or people outside the House.

Promissory Notes: Statements (7 Feb 2013)

Micheál Martin: The key question on which we need clarification is what difference the deal will make-----

Promissory Notes: Statements (7 Feb 2013)

Micheál Martin: -----to the overall stock of Government debt.

Promissory Notes: Statements (7 Feb 2013)

Micheál Martin: May I ask the question again?

Promissory Notes: Statements (7 Feb 2013)

Micheál Martin: This is a serious issue. The Minister, Deputy Rabbitte, was a bit giddy last night. The giddiness has continued into today. That is fair enough, but-----

Promissory Notes: Statements (7 Feb 2013)

Micheál Martin: -----I have questions that I want to put on the record of the House and I would appreciate a response. What difference will the deal make to the overall stock of Government debt?

Promissory Notes: Statements (7 Feb 2013)

Micheál Martin: It would appear that "None" is the answer.

Promissory Notes: Statements (7 Feb 2013)

Micheál Martin: Do we owe as much today as we owed yesterday? The key metric in assessing any benefit from the promissory note restructuring is the term extension, that is, the amount of extra time that the Government can secure to take advantage of rock bottom ECB financing rates. What is the average rate of interest and what is the term of the new bonds issued to replace the promissory note?

Promissory Notes: Statements (7 Feb 2013)

Micheál Martin: The key question has not been answered because Mario Draghi stated that he noted the Irish operation. How long will the ECB permit the Central Bank to hold the bonds until the latter must sell them into the market?

Promissory Notes: Statements (7 Feb 2013)

Micheál Martin: Could we have a specific response to this fundamental and important question? It weighs heavily on the value of the deal. Will a solidarity dividend arise from the deal in terms of the tax increases and expenditure cuts in next year's budget? Will funds be freed up for much needed capital investment in the economy? People are anxious to ascertain whether this will come about in the deal's...

Promissory Notes: Statements (7 Feb 2013)

Micheál Martin: Is it the position that, once converted into Government bonds, no further restructuring can be done, as such actions would amount to a default? Was this the best possible deal?

Promissory Notes: Statements (7 Feb 2013)

Micheál Martin: An earlier deal was resisted and rejected. Can this deal ever again be revisited or is it the definitive conclusion to the cost of Anglo Irish Bank and Irish Nationwide and how they will be apportioned?

Promissory Notes: Statements (7 Feb 2013)

Micheál Martin: At last year's June summit, it was clearly stated that there would be a separation of sovereign debt from banking debt. It has not been done in this deal. In many respects, the link is being cemented. Last June and in the context of the "game changer", the Government gave a clear commitment that the ESM would retroactively fund our investment in our legacy and pillar banks and that...