Results 15,661-15,680 of 16,537 for speaker:Brian Lenihan Jnr

EU-IMF Programme for Ireland and National Recovery Plan 2011-14: Statements (Resumed) (1 Dec 2010)

Brian Lenihan Jnr: I cannot produce documents but they were fully briefed.

EU-IMF Programme for Ireland and National Recovery Plan 2011-14: Statements (Resumed) (1 Dec 2010)

Brian Lenihan Jnr: It is a licensed bank at present.

EU-IMF Programme for Ireland and National Recovery Plan 2011-14: Statements (Resumed) (1 Dec 2010)

Brian Lenihan Jnr: That is yet to be determined.

EU-IMF Programme for Ireland and National Recovery Plan 2011-14: Statements (Resumed) (1 Dec 2010)

Brian Lenihan Jnr: Yes, there was. That was absolutely the case.

EU-IMF Programme for Ireland and National Recovery Plan 2011-14: Statements (Resumed) (1 Dec 2010)

Brian Lenihan Jnr: I am referring to the past two years.

EU-IMF Programme for Ireland and National Recovery Plan 2011-14: Statements (Resumed) (1 Dec 2010)

Brian Lenihan Jnr: How does the Deputy know?

EU-IMF Programme for Ireland and National Recovery Plan 2011-14: Statements (Resumed) (1 Dec 2010)

Brian Lenihan Jnr: The Chancellor was talking about sovereign debt.

EU-IMF Programme for Ireland and National Recovery Plan 2011-14: Statements (Resumed) (1 Dec 2010)

Brian Lenihan Jnr: Hoover let the banks collapse, just as a matter of historical interest.

EU-IMF Programme for Ireland and National Recovery Plan 2011-14: Statements (Resumed) (1 Dec 2010)

Brian Lenihan Jnr: The Deputy might have to explain it to them.

EU-IMF Programme for Ireland and National Recovery Plan 2011-14: Statements (Resumed) (1 Dec 2010)

Brian Lenihan Jnr: At the end when the UK has lifted its rate during its fiscal correction.

EU-IMF Programme for Ireland and National Recovery Plan 2011-14: Statements (Resumed) (1 Dec 2010)

Brian Lenihan Jnr: Deputy Burton has got it all wrong. There was no visit.

EU-IMF Programme for Ireland and National Recovery Plan 2011-14: Statements (Resumed) (1 Dec 2010)

Brian Lenihan Jnr: Not at the UN.

EU-IMF Programme for Ireland and National Recovery Plan 2011-14: Statements (Resumed) (1 Dec 2010)

Brian Lenihan Jnr: To which page does the Deputy refer?

EU-IMF Programme for Ireland and National Recovery Plan 2011-14: Statements (Resumed) (1 Dec 2010)

Brian Lenihan Jnr: There were so many questions I am trying to catch up with them. First, it is not correct to state, as Deputy Burton suggested, that the Government is not imposing burden sharing on bondholders. It is very clear if Deputy Burton reads the report that this is one of the first steps that is being taken under the programme. It is an action for the first review, where burden sharing by holders...

EU-IMF Programme for Ireland and National Recovery Plan 2011-14: Statements (Resumed) (1 Dec 2010)

Brian Lenihan Jnr: If we are going to have informed-----

EU-IMF Programme for Ireland and National Recovery Plan 2011-14: Statements (Resumed) (1 Dec 2010)

Brian Lenihan Jnr: If we are going to have informed debate about these matters, let us not throw out references at large without any precision. Deputy Burton directly stated in the House a few moments ago that nothing had been done about bondholders. I have indicated that one of the first actions required in the first review period, which is a quarterly period - Deputy Burton inquired about that. The reviews...

EU-IMF Programme for Ireland and National Recovery Plan 2011-14: Statements (Resumed) (1 Dec 2010)

Brian Lenihan Jnr: The first quarter of 2011. The end of March 2011.

EU-IMF Programme for Ireland and National Recovery Plan 2011-14: Statements (Resumed) (1 Dec 2010)

Brian Lenihan Jnr: Deputy Burton will notice that the most important elements of what has to be done in the first quarter is the budget and certain banking changes. They will be substantially in place by the end of January or at the latest by the end of February. That is the envisaged timescale. Let us not play with words.

EU-IMF Programme for Ireland and National Recovery Plan 2011-14: Statements (Resumed) (1 Dec 2010)

Brian Lenihan Jnr: The formal obligation however is in the first three months. The agreement is expressed as the first quarter of 2011. Clearly the budget in practical terms is the first instalment of the four year plan which has been endorsed in this programme. The budget is the decisive signal on the implementation of this whole programme. On bondholders, first, having clarified Deputy Burton's inaccurate...

EU-IMF Programme for Ireland and National Recovery Plan 2011-14: Statements (Resumed) (1 Dec 2010)

Brian Lenihan Jnr: -----senior bondholders. I am now turning to senior bondholders in answer to her question. Senior bondholders, in turn, have two categories. Some senior bondholders in the banks have obtained Government guarantees on the bonds in question, under the previous guarantee or under the eligible liabilities guarantee, ELG, scheme. There are guaranteed bonds and un-guaranteed bonds. It is...