Results 15,501-15,520 of 16,537 for speaker:Brian Lenihan Jnr

Irish Banking: Statements (18 Nov 2010)

Brian Lenihan Jnr: Deputy Sherlock's concern is shared by the Government. That is why we are not giving any figures at this stage, because none have been elaborated or proposed and there is no range of figures. Clearly, when figures are available they will be brought to Government and considered by it before any decision is taken. That is the position in regard to figures. I am not sure whether there was...

Irish Banking: Statements (18 Nov 2010)

Brian Lenihan Jnr: There is no connection between these discussions and unemployment.

Irish Banking: Statements (18 Nov 2010)

Brian Lenihan Jnr: I shall examine that suggestion and bring it before my colleagues in Government. The Government does not generally require specific authority to borrow money, but this is a more unusual circumstance and, as I said earlier to Deputy Burton, in the event of it materialising the advice of the Attorney General will be obtained in that regard.

Irish Banking: Statements (18 Nov 2010)

Brian Lenihan Jnr: With regard to guaranteed liabilities, clearly the sovereign does not intend to renege on anything the sovereign has undertaken, and that has not been raised as an issue at any stage since last Tuesday in these discussions. It is very important that this is understood. On the question of senior debt generally - and some senior debt is off the guarantee - Commissioner Rehn's opinion was to...

Irish Banking: Statements (18 Nov 2010)

Brian Lenihan Jnr: I will not have much opportunity at the conclusion. At the meeting the following morning, I did a number of interviews with the Irish media, and Ireland was not under discussion at the ECOFIN. It was discussed, informally, by the Ministers at lunchtime, and I participated fully in that.

Irish Banking: Statements (18 Nov 2010)

Brian Lenihan Jnr: The ECB lends, as lender of last resort, at the appropriate applicable rate which is current 1.5%, and that will continue

Irish Banking: Statements (18 Nov 2010)

Brian Lenihan Jnr: I can, it will be a low rate, but the determination of the precise rate is a matter for the ECB.

Irish Banking: Statements (18 Nov 2010)

Brian Lenihan Jnr: None. Of course the Stability and Growth Pact requirements were discussed with the European authorities, and €6 billion as an appropriate frontloading figure was agreed with them. The precise distribution of expenditure and revenue decisions are a matter for the Government.

Irish Banking: Statements (18 Nov 2010)

Brian Lenihan Jnr: I am not clear about the document or the process to which the Deputy refers.

Irish Banking: Statements (18 Nov 2010)

Brian Lenihan Jnr: That is unclear at this stage. The Deputy is predetermining the outcome of the discussions.

Irish Banking: Statements (18 Nov 2010)

Brian Lenihan Jnr: He is predetermining the outcome of the discussions.

Irish Banking: Statements (18 Nov 2010)

Brian Lenihan Jnr: The Deputy is predetermining the outcome of the discussions.

Irish Banking: Statements (18 Nov 2010)

Brian Lenihan Jnr: Deputy Noonan is predetermining the discussions. We are at a stage of technical discussions, which only began this morning.

Irish Banking: Statements (18 Nov 2010)

Brian Lenihan Jnr: Certain preliminary matters were discussed earlier in the week between the Commission and myself.

Irish Banking: Statements (18 Nov 2010)

Brian Lenihan Jnr: I understand the Deputy's second question but did not quite grasp her first question.

Irish Banking: Statements (18 Nov 2010)

Brian Lenihan Jnr: Yes. We are not the stage of having any agreement in principle to access the fund. My reply to that question is the same as the reply I gave to Deputy Noonan, namely, the Deputy is anticipating matters. The Deputy is anticipating that a particular fund will be used.

Irish Banking: Statements (18 Nov 2010)

Brian Lenihan Jnr: Yes but the Deputy is anticipating where we might be at this stage. We are not there. That is important.

Irish Banking: Statements (18 Nov 2010)

Brian Lenihan Jnr: I agree. I welcome Professor Honohan's comments this morning. Clearly, if it happened on the basis he advocated, which is at a very minimal cost to the taxpayer-----

Irish Banking: Statements (18 Nov 2010)

Brian Lenihan Jnr: -----that would be a very welcome development for the Irish State. I agree with what Professor Honohan said this morning.

Irish Banking: Statements (18 Nov 2010)

Brian Lenihan Jnr: The difficulty is that my Department, the NTMA and officials from the Central Bank associated with them, have to engage in these discussions to ensure that we do protect the taxpayer and that we do get the best possible arrangement in the event of a decision being made by the Government.