Results 27,981-28,000 of 35,914 for speaker:Pearse Doherty

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (4 Jun 2014)

Pearse Doherty: Does he accept that there was a run and that the effects on those individual money market funds had further implications for other money market funds across the globe?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (4 Jun 2014)

Pearse Doherty: Does he accept that the effects of the run had an impact on money market funds across the globe?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (4 Jun 2014)

Pearse Doherty: Does Mr. Carrigan accept that the run and the lack of confidence in the system at that time had an impact on the financial system in terms of overnight lending or short-term lending?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (4 Jun 2014)

Pearse Doherty: We know there was a run because we talked about it here and we heard a lot about it all being low-risk. I am going back a couple of years to the start of the banking crisis, when the crisis materialised. There was a run on shadow banking which had an impact on many other funds across the globe which were not lending and which were very panicky at that time. That had an impact on financial...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (4 Jun 2014)

Pearse Doherty: I understand about the regulations. I am dealing with the risk issue. Does Mr. Carrigan acknowledge that the run in 2007-2008 had an impact on the liquidity of Irish banks at that time?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (4 Jun 2014)

Pearse Doherty: I do not expect Mr. Carrigan to agree entirely.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (4 Jun 2014)

Pearse Doherty: Given Mr. Carrigan's continued reference to these instruments being low-risk, I do not expect him to go as far as the Nobel Laureate, Paul Krugman, who said that the run on the shadow banking system at that time was at the core of the financial crisis, but will he acknowledge that it had a serious impact not just in the United States, where Lehman Brothers was not able to pay out in the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (4 Jun 2014)

Pearse Doherty: I welcome the fact that Mr. Carrigan said he was not ruling out the buffer on the behalf of the State. All the other enhanced regulations are important, but unless the industry has a capital reserve to deal with losses, it does not make a huge difference. Losses have always occurred, but sponsors have stepped in, or there is enough time for assets to appreciate again and offset the losses....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (4 Jun 2014)

Pearse Doherty: While I acknowledge completely that there is a difference between shadow banking and banking, the same argument made by Mr. Gilvarry in terms of the buffer could be applied to the capital of any bank where the capital is being eaten into and the bank takes riskier initiatives to build up its capital. That is a catch-22 system. Mr. Gilvarry also spoke about this being very low-risk and about...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (4 Jun 2014)

Pearse Doherty: It is still a long way off the US model, under which the figure is 80%. Mr. Carrigan is saying that the negotiations are open, but this has been on the table for quite a while. What surprises me is the position of the Department and Government. Mr. Carrigan mentioned a number of times that he is not in favour of light-touch regulation. I put it to him that this is light-touch regulation...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (4 Jun 2014)

Pearse Doherty: Reading through this and given our own experience when we started to examine COM (2013) 615 more closely, it was surprising, looking at it from a very basic perspective, that the Department of Finance was raising a red flag and objecting to the idea that major financial institutions - shadow banking which accounts for billions of euro in the State - would not have a reserve - a regulator...

Written Answers — Department of Finance: Revenue Commissioners Investigations (4 Jun 2014)

Pearse Doherty: 27. To ask the Minister for Finance the purpose of the correspondence sent by the Revenue Commissioners (details supplied); if such general queries are common; and if he will make a statement on the matter. [23673/14]

Written Answers — Department of Finance: Insurance Industry Regulation (4 Jun 2014)

Pearse Doherty: 42. To ask the Minister for Finance the reason in his replies on the issue of Setanta Insurance he has repeatedly said that the Central Bank of Ireland first became aware of problems in November 2013 when the Maltese Financial Services Authority has told this Deputy that it was in contact since September 2013 regarding Setanta. [23919/14]

Written Answers — Department of Finance: General Government Debt (4 Jun 2014)

Pearse Doherty: 34. To ask the Minister for Finance if he will provide an estimate for the general Government deficit in 2015 on the basis of no new discretionary changes in public expenditure and Government revenue in budget 2015. [23749/14]

Written Answers — Department of Public Expenditure and Reform: Exchequer Savings (4 Jun 2014)

Pearse Doherty: 67. To ask the Minister for Public Expenditure and Reform if he will provide, in tabular form, the carryover for the 2015 fiscal year in respect of the Haddington Road agreement and other expenditure measures. [23748/14]

Written Answers — Department of Health: Health Services Staff (4 Jun 2014)

Pearse Doherty: 177. To ask the Minister for Health if it is the policy of his Department to recruit new graduates in Donegal mental health services over those who hold a qualification of longer standing who would be entitled to a higher rate of remuneration as a cost-cutting measure; and if he will make a statement on the matter. [23664/14]

National Treasury Management Agency (Amendment) Bill 2014: Second Stage (29 May 2014)

Pearse Doherty: I am sharing time with Deputy Tóibín. Ar dtús báire, ba mhaith liom fáilte a chur roimh an reachtaíocht seo. Mar atá ráite ag an Teachta McGrath, tá seo fógraithe le blianta fada agus níl a fhios agam cé mhéid uair atá sé ardaithe agam leis an Taoiseach, an Tánaiste agus an leis an Aire Airgeadais, ná...

Written Answers — Department of Finance: Public Sector Staff (28 May 2014)

Pearse Doherty: 49. To ask the Minister for Finance if there have been any reports or incidents of applicants for competitions for posts in the Revenue Commissioners obtaining advanced access to tests; and if he will make a statement on the matter. [23446/14]

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (28 May 2014)

Pearse Doherty: 50. To ask the Minister for Finance if and when the Strategic Banking Corporation of Ireland will receive a banking licence. [23456/14]

Written Answers — Department of Finance: Mortgage Resolution Processes (27 May 2014)

Pearse Doherty: 16. To ask the Minister for Finance when and the way in which he expressed the view that letters threatening repossession or legal action will not be considered a sustainable solution under the mortgage arrears targets and should only ever be considered after every possible avenue for solution has been exhausted, to each of Ulster Bank, Bank of Ireland, AIB and Permanent TSB. [23023/14]