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Order of Business. (22 Jun 2010)

Brian Cowen: It is currently being finalised, so I cannot give a date at the moment.

Order of Business. (22 Jun 2010)

Brian Cowen: I indicated the Government's intentions in these areas. The legislation must be prepared. An effort has been made to provide the legal means by which this might be achieved. I have indicated where this might happen. I cannot provide the commitment to have this published in the next couple of weeks as sought by Deputy Deenihan. It is being dealt with in the Department of Finance in...

Church-State Dialogue (22 Jun 2010)

Brian Cowen: There are survivor groups that did not express themselves in the way he suggests at those meetings. There were others that did. My job was to outline in what way we were going to be in a position to implement those areas of the motion addressed here in the House. There may well be areas of the motion that some survivor groups would rather see worded or dealt with differently but...

Church-State Dialogue (22 Jun 2010)

Brian Cowen: That is an issue that would need to be taken up directly with the Minister for Education and Skills. I would not have the specifics in that area.

Church-State Dialogue (22 Jun 2010)

Brian Cowen: The figures mentioned by Deputy Kenny are broadly correct. The first issue is to realise the value set out in respect of the assets, buildings and properties brought forward by the congregations for submission to the State. They were valued at €348.51 million but more detailed work and discussion with the congregations is necessary on the detail of their property offers, assuming these...

Church-State Dialogue (22 Jun 2010)

Brian Cowen: It was not raised with me by the moderator. I am aware of the issue and I know it was taken up with the British Government directly to see if anything could be done. I am not sure there are easy answers available. We are not part of that commitment. We have listened attentively to the issue but it is being dealt with by the British Government in respect of a government interface with the...

Church-State Dialogue (22 Jun 2010)

Brian Cowen: Yes. That matter was mentioned to me by the moderator. I asked the official attending the meeting to follow up on that and to contact the Department of Justice and Law Reform to determine in what way we might be able to assist if there are individual cases where problems are being experienced regarding people from outside the country coming to work here as ministers in the various churches....

Leaders' Questions. (22 Jun 2010)

Brian Cowen: The chief executive of Anglo Irish Bank has indicated to the Oireachtas committee what the situation is, namely, that were one to go for immediate liquidation of the bank, it would involve a cost to the taxpayer of over €42 billion, which has been the policy put forward by Fine Gael on a number of occasions. This would be in addition to an immediate funding requirement of up to €70...

Leaders' Questions. (22 Jun 2010)

Brian Cowen: In respect of subordinated debt, there have been buy-back arrangements that have seen losses for those who held dated subordinated debt in this bank and in other banks. The Deputy appears to be suggesting that senior bondholders, that is, pension funds, credit unions and people like that, also should take some part of the hit. The Deputy's policy at present is to default on senior...

Leaders' Questions. (22 Jun 2010)

Brian Cowen: I have been trying to decipher the Deputy's policy for the last five minutes while listening to him and it appears to be as follows-----

Leaders' Questions. (22 Jun 2010)

Brian Cowen: Sorry, but the Deputy has had four chances to talk about this. His policy appears to be that rather than the scenario in which the Government must provide this funding to Anglo Irish Bank - I note an immediate liquidation would cost twice the amount and would entail funding requirements of a further €70 billion - the Deputy suggests that more of that money should be put into...

Leaders' Questions. (22 Jun 2010)

Brian Cowen: As for that matter, Deputy Kenny then intends to go elsewhere in the international markets and claims he will be able to raise this money from the same people he does not intend to pay.

Leaders' Questions. (22 Jun 2010)

Brian Cowen: The Deputy must figure this out for himself. If one does not get paid for the first debt, one will not sell the second one. This is the facility of the Deputy's policy.

Leaders' Questions. (22 Jun 2010)

Brian Cowen: As recently as last week, in a stout defence of Deputy Kenny, the man now sitting beside him suggested that Anglo Irish Bank needed to be wound down immediately.

Leaders' Questions. (22 Jun 2010)

Brian Cowen: I can supply Deputy Kenny with the quotation from RTE news. The policy last week was to wind it down while the policy this week, according to Deputy Kenny, is not to pay the credit unions and the pension funds-----

Leaders' Questions. (22 Jun 2010)

Brian Cowen: ----- in order to get money from the pension funds and the credit unions to perform the proposed infrastructural work.

Leaders' Questions. (22 Jun 2010)

Brian Cowen: At present, that is where the Deputy is at. The sooner he selects a finance spokesperson, the better it will be for his own outfit.

Leaders' Questions. (22 Jun 2010)

Brian Cowen: As for the situation here, the Government is committed to an infrastructural investment programme.

Leaders' Questions. (22 Jun 2010)

Brian Cowen: It has set it out and has stated that €40 billion over the next six years should be provided for infrastructure.

Leaders' Questions. (22 Jun 2010)

Brian Cowen: Indeed, much the infrastructural investment that has been seen in recent years continues to be of benefit to the economy, despite the serious downturn in the public finances as well.

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