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Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Seán Fleming: No. Chairman, I have to stop here. We are not going to have an accountancy trick. The witnesses are talking to an accountant.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Seán Fleming: Yes, and Mr. McDonagh is not going to tell the people of Ireland there is no difference between a loss of €280 million and a loss of €783 million. There is a mass of difference. I know he is going to explain it based on previous provision. It is still a loss in NAMA's time which he did not put in his submission.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Seán Fleming: Can the Comptroller and Auditor General comment on his chart, which says the actual loss was €783 million?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Seán Fleming: The same problem is happening at the banking inquiry in terms of how the value of loans is estimated and all that. In simple English - layman's English - Mr. McCarthy is saying the carrying value when NAMA got this portfolio was €2.169 billion-----

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Seán Fleming: And that they were sold at €1.385 billion, and that is a difference of-----

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Seán Fleming: The difference is €0.783 billion.

Written Answers — Department of Health: Accident and Emergency Departments (9 Jul 2015)

Seán Fleming: 37. To ask the Minister for Health his plans to improve services in the emergency department at the Midland Regional Hospital in Portlaoise in County Laois; and if he will make a statement on the matter. [27570/15]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: A vote has been called in the Dáil.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: The Government will win the vote in any event.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: I have several straightforward questions to put to the delegates. For the purposes of getting as clear a picture as possible, I will put myself in the place of Seán or Siobhán Citizen who might be watching these proceedings. My first question relates to the figure of €1.1 trillion. What percentage of additional currency would that have put into the system? What was the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: Is Dr. Kinsella joking?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: The ECB balance sheet.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: Has anyone an idea? Why do something when one has no idea of the impact? Have we any idea?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: There is no total on the bottom of that column.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: Is the paid-up capital €7.6 trillion?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: So €10 trillion would be-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: Dr. Gurdgiev is saying if that 70% paid up capital by the banks-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: Quantitative easing could help Russia as much as it could help-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: I have another question. Other than for legal reasons, would it be a good or a bad idea for the European Central Bank to be a market-maker as it only operates in the secondary market? It could have more direct influence if it were a market-maker.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quantitative Easing: Discussion (8 Jul 2015)

Seán Fleming: I know that is the law but would it be a good idea or a bad idea?

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