Results 24,981-25,000 of 27,945 for speaker:Michael McGrath
- Fiscal Code (23 May 2012)
Michael McGrath: The question is about the fiscal treaty.
- Fiscal Code (23 May 2012)
Michael McGrath: Can I finish with one sentence?
- Fiscal Code (23 May 2012)
Michael McGrath: What advice is available to the Minister concerning whether Ireland has a veto over the establishment of the ESM in terms of Article 136 of the treaty on the functioning of the EU?
- European Council Meetings (23 May 2012)
Michael McGrath: We all welcome the renewed focus on economic growth and measures that can emanate from Europe to assist us in this regard. However, the question as to where is the beef will arise very soon. What are we looking at in practical terms from European initiatives rather than from the proceeds from the sale of State assets? Will it involve expanding the role of the European Investment Bank or...
- National Asset Management Agency (23 May 2012)
Michael McGrath: I thank the Minister for his reply. I welcome the statement made by NAMA today, in so far as it goes, on the investment of â¬2 billion over the next four years. NAMA has access to up to â¬5 billion to invest in working capital and the completion of projects in its remit. The key test is whether the â¬2 billion it is to invest will add more than â¬2 billion in value to the assets in...
- National Asset Management Agency (23 May 2012)
Michael McGrath: I know that.
- National Asset Management Agency (23 May 2012)
Michael McGrath: Is it from the â¬5 billion, which is the ceiling?
- National Asset Management Agency (23 May 2012)
Michael McGrath: I have some concerns over NAMA's intention to use â¬2 billion of its cash reserves on vendor financing. In effect it will lend money to people or institutions to buy NAMA assets. While it might look good in terms of achieving its sales targets, given that the agency is trying to reduce the debts owed to it, adding to the debts by lending money to prospective purchasers may not be...
- EU-IMF Funding (23 May 2012)
Michael McGrath: Question 1: To ask the Minister for Finance the likely cost of funds that would apply, in the event that the Fiscal Stability Treaty referendum is passed on 31 May, if Ireland should need to avail of funding from the European Stability Mechanism beyond the period of the current EU-IMF programme of assistance; the way this compares to current market rates for Irish Government bonds; if he...
- EU-IMF Funding (23 May 2012)
Michael McGrath: I thank the Minister for his response. In the remaining week of the referendum campaign, the debate will come down to brass tacks. We know for sure that in the second half of next year Ireland will need to have identified with certainty how the country will be funded on exiting the EU-IMF programme. We know we will need â¬36 billion in 2014 and in 2015 to ensure this country is fully...
- EU-IMF Funding (23 May 2012)
Michael McGrath: The NTMA is held in high regard and its reputation is beyond question and that is very significant advice from it. I would regard the fact the NTMA has given the Minister the advice that the country will not be in a position to fund itself beyond next year if the treaty is rejected as a highly significant intervention. Does that advice concur with the Minister's opinion as Minister for Finance?
- National Asset Management Agency (23 May 2012)
Michael McGrath: Question 4: To ask the Minister for Finance his views on whether all properties being sold by agents on behalf of the National Assets Management Agency or on behalf of receivers appointed by NAMA should be advertised on the open market in order that all potential interested parties have the opportunity to make an offer for the property. [25881/12]
- National Asset Management Agency (23 May 2012)
Michael McGrath: This issue goes to the heart of the need for transparency in the operation of NAMA. This came to my attention because of the sale of a 450 acre land bank outside Cork city. It was sold by agents appointed by a NAMA debtor and the sale was completed without the property being put on the open market. On further investigation, it appears this is not an unusual occurrence. NAMA is hiding...
- National Asset Management Agency (23 May 2012)
Michael McGrath: With the greatest of respect to selling agents, they cannot know what property is worth until it is put up for sale on the open market. In this case, it concerns a land bank of 450 acres of prime agricultural land with some potential for future development. Many people would have been interested in the land bank or parcels of it. The broad principle concerns more than just this case....
- Written Answers — European Union Budget: European Union Budget (22 May 2012)
Michael McGrath: Question 155: To ask the Tánaiste and Minister for Foreign Affairs and Trade his views on the overall size of the European Community budget; his views on whether it should be increased; the way that this could be achieved; and if he will make a statement on the matter. [24836/12]
- Written Answers — Mortgage Arrears: Mortgage Arrears (22 May 2012)
Michael McGrath: Question 334: To ask the Minister for Social Protection the progress made to date on the establishment of the independent mortgage advisory function recommended in the Keane Report on mortgage arrears; and when she expects this service to become operational. [25131/12]
- Written Answers — Mortgage Arrears: Mortgage Arrears (22 May 2012)
Michael McGrath: Question 472: To ask the Minister for the Environment, Community and Local Government the number of completed transactions under the mortgage to rent schemes recommended in the Keane Report on mortgage arrears; and if he will make a statement on the matter. [25132/12]
- Written Answers — European Investment Bank: European Investment Bank (17 May 2012)
Michael McGrath: Question 45: To ask the Minister for Finance the number and total value of all financing operations undertaken by the European Investment Bank in Ireland in each of the past four years; and if he will make a statement on the matter. [24721/12]
- Written Answers — National Asset Management Agency: National Asset Management Agency (17 May 2012)
Michael McGrath: Question 46: To ask the Minister for Finance the extent to which the National Assets Management Agency has considered using real estate investment trusts as a means of maximising the return to the State from its investment; and if he will make a statement on the matter. [24722/12]
- Written Answers — Departmental Staff: Departmental Staff (17 May 2012)
Michael McGrath: Question 47: To ask the Minister for Finance his views on whether the current staffing level in his Department is adequate to fulfil its strategic objectives; and if he will make a statement on the matter. [24723/12]