Results 20,341-20,360 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Transport, Tourism and Sport: State Assets (20 Jan 2015)

Michael McGrath: 598. To ask the Minister for Transport, Tourism and Sport the number of shares in Aer Lingus owned by the Irish State; and if he will make a statement on the matter. [2264/15]

Written Answers — Department of Transport, Tourism and Sport: Road Improvement Schemes (20 Jan 2015)

Michael McGrath: 603. To ask the Minister for Transport, Tourism and Sport the position regarding the reinstatement on the specific improvement grant for local and regional roads; the amount of funding for the scheme in 2015; and if he will make a statement on the matter. [2592/15]

Written Answers — Department of Transport, Tourism and Sport: Airport Landing Slots (20 Jan 2015)

Michael McGrath: 612. To ask the Minister for Transport, Tourism and Sport the number of slot pairs at Heathrow Airport owned by Aer Lingus; the restrictions that were applied to the sale of these following the flotation of Aer Lingus; if these restrictions still apply; and if he will make a statement on the matter. [2710/15]

Written Answers — Department of Finance: Banks Recapitalisation (15 Jan 2015)

Michael McGrath: 67. To ask the Minister for Finance his views on comments by the Minister of State at his Department regarding a possible pro bono fee arrangement with the firm appointed to provided advice regarding capital restructuring and other related matters in relation to State investment in AIB; the fee structure that will be in place; and if he will make a statement on the matter. [2024/15]

Written Answers — Department of Finance: Banks Recapitalisation (15 Jan 2015)

Michael McGrath: 72. To ask the Minister for Finance the terms on which a company (details supplied) has been appointed by his Department in respect of the possible sale of AIB; if a contract has been awarded; if a competitive tendering procedure took place; and if he will make a statement on the matter. [2121/15]

Written Answers — Department of Finance: Credit Unions Restructuring (15 Jan 2015)

Michael McGrath: 68. To ask the Minister for Finance the number of applications for credit union restructuring that are before the restructuring board; and if he will make a statement on the matter. [2025/15]

Written Answers — Department of Finance: Consultancy Contracts Expenditure (15 Jan 2015)

Michael McGrath: 69. To ask the Minister for Finance the amount that has been paid to a company (details supplied) for professional services on the banking crisis since 2008, including any amounts, shown separately, paid by his Department, the Central Bank of Ireland, the National Treasury Management Agency and the National Pension Reserve Fund, or by the covered institutions themselves. [2026/15]

Written Answers — Department of Finance: Knowledge Development Box (15 Jan 2015)

Michael McGrath: 70. To ask the Minister for Finance the consultations underway by his Department and the Central Bank of Ireland; and if he will make a statement on the matter. [2027/15]

Written Answers — Department of Environment, Community and Local Government: Dormant Accounts Fund Deposits (15 Jan 2015)

Michael McGrath: 218. To ask the Minister for Environment, Community and Local Government the current balance in the Dormant Account Fund; and if he will make a statement on the matter. [2028/15]

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

Michael McGrath: The Governor is very welcome. I thank him for attending. The Chairman asked the Governor at the start of the meeting the cost of the bank guarantee and he said in net terms it was in the region of €40 billion. I want to tease that out with him. In his view was it the guarantee itself that cost that or is he referring to the rescue of the banks?

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

Michael McGrath: I accept that but going even further than that in terms of the management of the banking crisis, as the Governor knows, the guarantee was a two-year guarantee. At the end of September 2010 about €40 billion of senior bank bonds came out of guarantee and they were not covered by the eligible liabilities guarantee, ELG, which replaced the original one. Did the fact that every cent of...

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

Michael McGrath: Yes.

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

Michael McGrath: It is a fairly direct question. Did the fact that everything which was unguaranteed had to be repaid contribute to the overall bill of rescuing the banks?

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

Michael McGrath: There were €20 billion of unsecured senior bonds that came out of guarantee at the end of September 2010. They were not all INBS and Anglo.

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

Michael McGrath: That is an opinion as to what you could have talked about.

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

Michael McGrath: Many people would argue you could have talked about everything-----

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

Michael McGrath: -----that we were rescuing the banking system-----

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

Michael McGrath: -----and that everyone should share the burden.

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

Michael McGrath: Okay. The Governor makes a point in his report about subordinated debt, which Deputy O'Donnell teased out with him also, and there is a clear criticism of the inclusion of dated subordinated debt. In view of the fact that the heavy losses were subsequently imposed on junior bondholders to the tune of approximately €15 billion, what could actually have been saved if all subordinated...

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

Michael McGrath: The Governor is also making the point about long-term debt. Is he referring to other senior bonds-----