Results 15,781-15,800 of 19,445 for speaker:Brian Cowen

Leaders' Questions (3 Mar 2010)

Brian Cowen: If deposits from existing banks in Ireland are to be chased in order to bring deposits into the new bank, the increased lending capacity is nil because deposits from one bank would be taken from one bank and given to another.

Leaders' Questions (3 Mar 2010)

Brian Cowen: That is the position.

Leaders' Questions (3 Mar 2010)

Brian Cowen: Our economic policy provides for a stimulus in the form of a 5% capital investment programme, even in the context of the most difficult public finance position we have seen in a very long time.

Leaders' Questions (3 Mar 2010)

Brian Cowen: We are devoting €6.5 billion into a capital investment programme that is protecting up to 80,000 jobs in the economy.

Leaders' Questions (3 Mar 2010)

Brian Cowen: Even last year, in the most difficult year, 125 projects were obtained by IDA Ireland for this country.

Leaders' Questions (3 Mar 2010)

Brian Cowen: Over the next five years it has set out to secure 105,000 jobs.

Leaders' Questions (3 Mar 2010)

Brian Cowen: It is a very reputable enterprise agency that has always delivered for this country and can only deliver on the basis of a Government being prepared to put the public finances in order so that investor confidence in the country can be increased.

Leaders' Questions (3 Mar 2010)

Brian Cowen: That is how we are proceeding and the plans we have in place.

Leaders' Questions (3 Mar 2010)

Brian Cowen: It is of that order.

Leaders' Questions (3 Mar 2010)

Brian Cowen: What should I have done?

Leaders' Questions (3 Mar 2010)

Brian Cowen: Nonsense.

Leaders' Questions (3 Mar 2010)

Brian Cowen: I refute once again the usual blandishments-----

Leaders' Questions (3 Mar 2010)

Brian Cowen: -----from Deputy Gilmore on the reasons for the decisions taken on 29 and 30 September 2008. Had Anglo Irish Bank not been included in the State guarantee, there would inevitably have been a run on the bank as depositors and other providers of funds to Anglo Irish Bank would have rushed to withdraw their funds from that institution. The bank could not have met those immediate demands and...

Leaders' Questions (3 Mar 2010)

Brian Cowen: Economists have known since the Great Depression of the 1930s-----

Leaders' Questions (3 Mar 2010)

Brian Cowen: -----that the meltdown of a large bank can have catastrophic effects on the economy and citizens' welfare. Anglo Irish Bank was much larger relative to the Irish economy than Lehman Brothers was relative to the US economy.

Leaders' Questions (3 Mar 2010)

Brian Cowen: The disorderly failure of Lehman Brothers brought the global financial system to its knees and the disorderly failure of Anglo Irish Bank two weeks later would have had the same effect on the entire Irish banking system. Those are the facts.

Leaders' Questions (3 Mar 2010)

Brian Cowen: This was about ensuring we had a banking system that could function. Despite the opposition to NAMA, the purpose of which I described yesterday, when it becomes operational it will provide us with the best means of providing access to funding at affordable prices-----

Leaders' Questions (3 Mar 2010)

Brian Cowen: -----for consumers and businesses. Those are the facts of the situation, and despite all of the contentions to the contrary, the Government is determined to make sure that we effectively restructure the banking system to bring that about. This country has an employment strategy and is based on the fact that we must first bring order to our public finances, something that is glazed over by...

Leaders' Questions (3 Mar 2010)

Brian Cowen: The IDA indicated what it has done. The Deputy can guff all he likes. When he was Minister for Enterprise and Employment, he relied on the IDA figures and spoke about it as a reputable organisation.

Leaders' Questions (3 Mar 2010)

Brian Cowen: It is being managed so well that when foreign investment dropped 30% in every advanced economy in the world, we still managed to bring 125 new projects to this country at a time when the economy contracted by 10.5%. That is what we have been able to achieve in our employment strategy.