Results 24,021-24,040 of 26,228 for speaker:Kieran O'Donnell

Announcement by Minister for Finance on Banking of 30 September 2010: Statements (Resumed) (30 Sep 2010)

Kieran O'Donnell: It will be €29.5 billion. That is based on discounts of 67% which I would say are reasonable, and if the discounts are 70% there will be a further €5 billion on top. It is reasonable and if one examines the loan book within Anglo Irish Bank which we have seen, we know some of the loans it gave out were reckless in the extreme.

Announcement by Minister for Finance on Banking of 30 September 2010: Statements (Resumed) (30 Sep 2010)

Kieran O'Donnell: The point the Minister is missing is that he guaranteed an insolvent bank on the night of the guarantee and if he looks back over the previous year he will see that the share price collapsed in Anglo Irish Bank in March 2008. Furthermore, Mr. Michael Somers, the former CEO of the NTMA, is on record as saying he had major reservations about giving Anglo Irish Bank money in terms of deposits.

Announcement by Minister for Finance on Banking of 30 September 2010: Statements (Resumed) (30 Sep 2010)

Kieran O'Donnell: It is in the public domain. It is a reasonable point. I do not wish to get personal but the situation as it stands is that between NAMA and the banks we have had a 100% increase in our national debt for which future generations will have to pay. It is like someone buying a house or business for €200,000 and being told by the bank he or she will be given a loan for another €200,000...

Announcement by Minister for Finance on Banking of 30 September 2010: Statements (Resumed) (30 Sep 2010)

Kieran O'Donnell: No, I want to quantify for the ordinary person looking at the sheer scale of the money the Minister is putting into the banks. In terms of the real economy, business credit has dried up. If the Minister wants practical solutions, while we disagree on policy we believe the banks should have worked out their own loans and that the taxpayer should have been the last to pay. In fact, the...

Announcement by Minister for Finance on Banking of 30 September 2010: Statements (Resumed) (30 Sep 2010)

Kieran O'Donnell: Yes. They are the Taoiseach's words. That is €1.5 billion which will come out of vital services across the spectrum for the citizens who are paying taxes. The problem with the banking system is that it has become about the process of NAMA, but no one considers the consequences. The haircuts are so out of control that the taxpayers have to fill a big hole in the banks and the banks are...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (30 Sep 2010)

Kieran O'Donnell: Question 141: To ask the Minister for Finance if he intends bringing in a bank resolution scheme; the details of such a scheme; when such a scheme will be introduced by way of legislation; if it will be confined to specific financial institutions and the names of same or will it be a general bank resolution scheme; and if he will make a statement on the matter. [34307/10]

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (30 Sep 2010)

Kieran O'Donnell: Question 143: To ask the Minister for Finance if he intends to extend the eligible liabilities guarantee scheme beyond 31 December 2010. [34309/10]

Written Answers — Fiscal Policy: Fiscal Policy (30 Sep 2010)

Kieran O'Donnell: Question 145: To ask the Minister for Finance the total budget deficit reduction in value terms; the balance between spending savings on the current and on the capital side and the additional tax measures which will be contained in his forthcoming budget; and if he will make a statement on the matter. [34311/10]

Written Answers — State Banking Sector: State Banking Sector (30 Sep 2010)

Kieran O'Donnell: Question 142: To ask the Minister for Finance his projection of the final cost to the taxpayer in respect of the Anglo Irish bank bailout; when he will be making this announcement; and if he will make a statement on the matter. [34308/10]

Written Answers — National Debt: National Debt (30 Sep 2010)

Kieran O'Donnell: Question 144: To ask the Minister for Finance the make up of the national debt in terms of total value, specific repayment periods and rate of interest payable; the expected national debt figures at the end of 2011, 2012, 2013, and 2014; the amount of interest payable on our national debt for 2010, 2011, 2012, 2013, and 2014; the average rate of interest paid on this national debt for each...

Written Answers — Economic Growth: Economic Growth (30 Sep 2010)

Kieran O'Donnell: Question 146: To ask the Minister for Finance the expected growth rates for the economy for the calendar years 2010 and 2011; his plans to implement a growth strategy for the economy; and if he will make a statement on the matter. [34312/10]

Written Answers — Banks Recapitalisation: Banks Recapitalisation (30 Sep 2010)

Kieran O'Donnell: Question 147: To ask the Minister for Finance the projected cost to the taxpayer in respect of the recapitalisation of Allied Irish Bank and the Bank of Ireland; and if he will make a statement on the matter. [34313/10]

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Kieran O'Donnell: Fine Gael supports the extension of the guarantee for new funding for Irish banks but only on the condition that the Government gives a commitment that it will introduce legislation before 1 November to provide for a bank resolution system and that it will require Anglo Irish Bank to immediately commence negotiations with the holders of subordinated bonds to alleviate the cost of the wind...

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Kieran O'Donnell: A third of Green Party Members have spoken in this debate and only a fraction of Fianna Fáil Deputies. That is symbolic of something. The guarantee reminds me of the original guarantee scheme, which was introduced on 30 September 2008. We were not provided with the full facts then. I remember on the night that the question was asked why the Government was including dated subordinated debt...

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Kieran O'Donnell: We all agree with——

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Kieran O'Donnell: The Deputy should not misrepresent——

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Kieran O'Donnell: They will move money——

Banking Sector Crisis: Motions (8 Jul 2010)

Kieran O'Donnell: When will the work get under way?

Banking Sector Crisis: Motions (8 Jul 2010)

Kieran O'Donnell: What about the draft business plan?

Banking Sector Crisis: Motions (8 Jul 2010)

Kieran O'Donnell: Why are there such discrepancies?