Results 2,461-2,480 of 11,861 for speaker:Brian Hayes

Seanad: Credit Institutions (Eligible Liabilities Guarantee)(Amendment) Scheme 2012: Motion (29 Nov 2012)

Brian Hayes: I congratulate the Senator on a constructive and to the point contribution.

Seanad: Credit Institutions (Eligible Liabilities Guarantee)(Amendment) Scheme 2012: Motion (29 Nov 2012)

Brian Hayes: I would expect that from her and she has not let us down in that regard. I remember distinctly the morning after the night of the guarantee because, for my sins I was a member of the Fine Gael Front Bench and we were asked to meet in emergency session that morning following a conversation the late Brian Lenihan had with the then leader of the Opposition, Deputy Enda Kenny, and the then Fine...

Seanad: Credit Institutions (Eligible Liabilities Guarantee)(Amendment) Scheme 2012: Motion (29 Nov 2012)

Brian Hayes: I thank Senators for the opportunity to come before the House. The motion before us was passed earlier by Dáil Éireann and I believe Senators will also see the justification for approving the scheme the Government has placed before the House. What is proposed is a practical step whereby the Credit Institutions (Eligible Liabilities Guarantee) (Amendment) Scheme will be extended into 2013,...

Credit Institutions (Eligible Liabilities Guarantee)(Amendment) Scheme 2012: Motion (29 Nov 2012)

Brian Hayes: I thank my colleagues for their contributions to the debate. In the five minutes allowed to me I will reply on some of the issues raised. I recognise the appalling circumstances in which the country has found itself because of the reckless lending policies and arrogance of the banking sector over a generation. Many in the House today were, in their own way, cheerleaders for that arrogance...

Credit Institutions (Eligible Liabilities Guarantee)(Amendment) Scheme 2012: Motion (29 Nov 2012)

Brian Hayes: Deputy Boyd Barrett wants us to default.

Credit Institutions (Eligible Liabilities Guarantee)(Amendment) Scheme 2012: Motion (29 Nov 2012)

Brian Hayes: The Deputy is talking about a situation like Argentina.

Credit Institutions (Eligible Liabilities Guarantee)(Amendment) Scheme 2012: Motion (29 Nov 2012)

Brian Hayes: It refers to the Channel Islands.

Credit Institutions (Eligible Liabilities Guarantee)(Amendment) Scheme 2012: Motion (29 Nov 2012)

Brian Hayes: Almost one year ago to the day, the Minister for Finance addressed colleagues in the House on the subject of the bank guarantee scheme, otherwise known as the ELG scheme. A lot has happened since in the banking sector. The covered banks have continued to make progress overall under the financial measures programme - the rigorous analysis of the capital and liquidity requirements of the...

Credit Union Bill 2012: Report Stage (Resumed) and Final Stages (28 Nov 2012)

Brian Hayes: The Deputy makes a fair point. Sometimes when we talk about credit unions, we assume they are all part of an homogenous entity. Of course, they are not. There are big and small ones and they are located in different parts of the country. When this issue was brought to my attention by a network of credit unions in my area, I could see some of the difficulties that arose. I suspect that in...

Credit Union Bill 2012: Report Stage (Resumed) and Final Stages (28 Nov 2012)

Brian Hayes: We are dealing with amendments Nos. 16 to 22, inclusive. I will deal with Deputy Doherty's question about the progress on some of the commitments given by the Minister for Finance on Committee Stage. I am aware of the discussion that occurred. Amendments Nos. 16 to 22, inclusive, relate to board membership. Amendments Nos. 16 and 17 relate to section 15(10)(a). As highlighted on...

Credit Union Bill 2012: Report Stage (Resumed) and Final Stages (28 Nov 2012)

Brian Hayes: Deputy Boyd Barrett is a conspiracy theorist.

Credit Union Bill 2012: Report Stage (Resumed) and Final Stages (28 Nov 2012)

Brian Hayes: On the subject of the larger banks I am sure everyone was pleased to hear the good news from today; for the first time in four years AIB managed to obtain a bond of €500 million on the open market. That is good news in the circumstances for a bank which is currently wholly ours. Good news came from the Bank of Ireland only two weeks ago that moneys were raised independent of the...

Credit Union Bill 2012: Report Stage (Resumed) and Final Stages (28 Nov 2012)

Brian Hayes: I understand no legislation is needed for that. It can happen, so prescribing it in law is not required. The Minister's point on Committee Stage was exactly as Deputy McGrath has suggested - namely, that by specifying such areas, one might well be precluding areas around which there could be the potential for greater co-operation in the future. On the question of additional services, which...

Credit Union Bill 2012: Report Stage (Resumed) and Final Stages (28 Nov 2012)

Brian Hayes: The Deputy is referring to State-guaranteed projects.

Credit Union Bill 2012: Report Stage (Resumed) and Final Stages (28 Nov 2012)

Brian Hayes: They are all being discussed together now.

Credit Union Bill 2012: Report Stage (Resumed) and Final Stages (28 Nov 2012)

Brian Hayes: I have nothing else to say. We will consider the matter in due course. If we are to put this into primary legislation, we will need the representative organisations to buy into it. That support is not there currently, but that is not to say it could not happen in the future. If the organisations express a unanimous view, or a near-unanimous view, the question of whether this should be...

Credit Union Bill 2012: Report Stage (Resumed) and Final Stages (28 Nov 2012)

Brian Hayes: On the question of investment, the Government accepts that the credit union movement has always been a key component of local investment. It more than any other financial institution has its eyes and ears on the ground. It knows who needs funds and who needs to be supported and is in a perfect position to make the call on these needs. The model of prudential judgment shown by credit unions...

Credit Union Bill 2012: Report Stage (Resumed) and Final Stages (28 Nov 2012)

Brian Hayes: I thank Deputy Doherty for his remarks. I have been following the very constructive debate that has been taking place in the House and I hope that my entrance onto the pitch does not stale matters at this late juncture. I am replying to amendments Nos. 6, 8, 9 and 10 and will go through the issues raised by the Deputies. Deputy Doherty moved amendment No. 6; Deputy Boyd Barrett tabled...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: Estimates for Public Services 2012
Vote 12 - Superannuation and Retired Allowances (Supplementary) (28 Nov 2012)

Brian Hayes: That is a very good suggestion, Chairman.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: Estimates for Public Services 2012
Vote 12 - Superannuation and Retired Allowances (Supplementary) (28 Nov 2012)

Brian Hayes: The reason we now have a Department of Public Expenditure and Reform is to answer the very question the Chairman has asked. We have a dedicated Department that is doing two things. First, it constantly keeps a much more vigorous eye on expenditure and, second, it aligns that expenditure to necessary public sector reforms. You seem to be saying, Chairman, that a further light of publicity...