Results 3,161-3,180 of 4,414 for speaker:Sean Barrett

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)

Sean Barrett: I thank Mr. Brown.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)

Sean Barrett: I am sure the Acting Chairman will call me to account. I welcome the witnesses from Ulster Bank. The sentence on page 3 of the opening statement, "there is a cost to living in a home", needs rephrasing. Both members and the people know this. As the witnesses are aware from The Economist over the years, Ireland had the highest house price inflation of any country for which Pam Woodall...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)

Sean Barrett: It is savage.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)

Sean Barrett: I welcome that because I do not think we should go over 80%. I believe that was the cause of the problem, which included Ulster Bank. In the history of this decade, albeit before Mr. Brown's time, Ulster Bank changed from being an industrial bank to being a major ingredient in the Irish property bubble. I have discussed this with people such as Frank O'Reilly, the previous chancellor of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)

Sean Barrett: It may be that in time, those legal letters will have no effect if it is seen to be the result of irresponsible lending by banks and a judge could very well make such a decision. Members encountered cases yesterday of people who had bank debt of more than €300,000 and an income of €40,000. If Ulster Bank has any similar cases on its books, it is quite likely that a judge will...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)

Sean Barrett: I welcome our guests and wish them good luck in restoring commercial viability to at least one part of the Irish banking system. I will ask again for the breakdown of the 3,103 customers and the 3,164 customers with regard to defaults. There are four people from Bank of Ireland before the committee, with four in the Gallery, and it is not acceptable that we have been asking for three hours...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)

Sean Barrett: Is that the policy?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)

Sean Barrett: The banks are bankrupt. It is really strange-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)

Sean Barrett: -----that the post office was softened and it was told to pay lower interest on savings when the banks were being bailed out. That does not meet any criteria of competition.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)

Sean Barrett: The industry received €64 billion so how much does Mr. Boucher think the post office received?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)

Sean Barrett: It is a bizarre way for the banking industry in Ireland to conduct itself. It received €64 billion but complains that the post office is engaged in unfair competition. I have never heard the likes of that before.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Sean Barrett: We have to get back to prudence in the housing market. Given all the trouble we have experienced in this country in terms of fivefold increases between 1996 and 2006, nobody should be allowed to bid up house prices again. The 80% ratio has proven in Denmark to be a good way of stopping such activity. Somebody who ran up a debt of €300,000 would be in trouble and would appeal to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Sean Barrett: I think I heard 92% loan to value. After what we heard, I think, 80% should be the absolute maximum if we do not want to go down this road all over again.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Sean Barrett: I heard the figure of 92% from our visitors. We introduced the Mortgage Credit (Loans and Bonds) Bill in November 2012 in the Seanad. The success of Denmark is based on 80%. The figure of €90,000, €100,000 or €110,000 or whatever was given to a previous Minister to buy in a place in the K Club is irresponsible banking. I would ask that the figure of 80% not be...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Sean Barrett: Is it policy to seek vacant possession?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Sean Barrett: Senator Hayden and Threshold were most concerned that this was the policy and that people who had paid their rent to a bankrupt landlord faced eviction. I am pleased to hear that reassurance. There is a problem with the kind of lending book described. I appreciate that the present management team is trying to deal with it and thank the chief executive for his remarks, but it comes after...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Sean Barrett: I welcome our visitors. I will take up Deputy Pearse Doherty's point. The €100,000 a year people seem to have been very well protected. The 16% reduction in staff costs was accomplished by a 15.3% reduction in staff numbers. The problem of high pay, to which Deputy Pearse Doherty referred, was not addressed during the year. Page 9 of the presentation shows total impaired loans in...

Seanad: SI 325 of 2012 - European Union (Quality and Safety of Human Organs Intended for Transplantation) Regulations 2012: Motion (20 Aug 2013)

Sean Barrett: I thank the Cathaoirleach for scheduling this debate and the Leader for facilitating it. We should be here. In one of the Government's strongest constituencies, Cork South-West, where there are two Fine Gael Deputies and one Labour Deputy out of three seats, the Southern Star last Saturday reported that 66% of people, the majority of whom support the Government, said the Seanad should be...

Seanad: An Bille um an Tríú Leasú is Tríocha ar an mBunreacht (Cúirt Achomhairc) 2013: Céim an Choiste agus na Céimeanna a bheidh Fágtha - Thirty-third Amendment of the Constitution (Court of Appeal) Bill 2013: Committee and Remaining Stages (24 Jul 2013)

Sean Barrett: I concur with all those wonderful sentiments towards the Minister.

Seanad: Order of Business (24 Jul 2013)

Sean Barrett: Hear, hear.