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Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)

Pearse Doherty: My specific question was whether bonuses will be paid for 2012.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)

Pearse Doherty: Mr. Corrigan referred to what investors are factoring in, namely, an extension of payments relating to the promissory bond. Is that what all investors are expecting or is Mr. Corrigan referring to only a portion of them? Is there an expectation that a move will be made in respect of some of the money we have invested in the pillar banks?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)

Pearse Doherty: Last week, I raised with the Minister for Finance the issue of employees of the NTMA who have moved into the private sector. Three senior employees who were seconded by the NTMA from the Department of Finance have resigned their positions and moved into the private sector. Mr. Michael Torpey was the member of staff who left most recently. I am not commenting on the individuals involved but...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)

Pearse Doherty: That is probably the problem. The staff of the NTMA have been seconded from elsewhere and some of them previously held some of the most senior positions in the Department of Finance. The latter is supposed to be turning the screw on the banks in order to ensure - in view of the their previously reckless behaviour - that they act appropriately. Those who run the banks have decided to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)

Pearse Doherty: When did Mr. Torpey notify the NTMA that he was terminating his contract?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)

Pearse Doherty: So that would have been after the unit he previously managed sold €1 billion of assets or contingent liabilities held by the bank which he will join as an executive director in a number of weeks.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)

Pearse Doherty: Is Mr. Corrigan satisfied that the work and discussions relating to the sale of this €1 billion in assets - the largest sale of State assets last year - only began after 14 December last when Mr. Torpey went on holiday?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)

Pearse Doherty: Mr. Corrigan mentioned that the staff of the NTMA are not public servants. Do those who run the agency ever engage in discussions on adhering to the public sector pay cap that has been set by the Government? I understand that 11 members of the staff of the NTMA each earn over €250,000 per annum in salaries. Is it ever suggested that the public sector pay cap should apply to them?...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)

Pearse Doherty: I welcome the delegates. The most recent European Commission report on Ireland, which has appeared on thestory.ie, states the Government is in negotiations on OMT and other options to provide assistance for the State to access the markets into the future. Will Mr. Corrigan set out details on how outright monetary transactions would evolve for the State and set out the conditions which would...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)

Pearse Doherty: I presume OMT is listed on the options paper the NTMA has received.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Economy and Funding Requirements: Discussion with NTMA (24 Jan 2013)

Pearse Doherty: There is a division because one is a credit line which is contingent and available, if required. OMT will be a separate beast. How would potential investors view Ireland securing OMT involvement? Would they consider it to be an indication that it had not exited the programme as planned and required additional assistance? Would OMT be positive or negative in that regard? While the...

Euro Area Loan Facility (Amendment) Bill 2013: Committee and Remaining Stages (24 Jan 2013)

Pearse Doherty: This legislation is not worthy of the support of the House. If there is one reason we should not support the Bill, it is the Minister of State's comment that it confers new obligations on Greek people. That is the crux of the issue. The interest holiday and reduction in the interest rate on the euro area loan are clearly positive developments but the key issue is that the changes in the...

Written Answers — Department of Jobs, Enterprise and Innovation: Foreign Direct Investment (24 Jan 2013)

Pearse Doherty: To ask the Minister for Jobs, Enterprise and Innovation the major areas of consideration raised by multi-national corporations when considering investing in the State. [3225/13]

Written Answers — Department of Jobs, Enterprise and Innovation: Foreign Direct Investment (24 Jan 2013)

Pearse Doherty: To ask the Minister for Jobs, Enterprise and Innovation his views on the major competitive advantage that the State has in attracting foreign direct investment. [3226/13]

Written Answers — Department of Finance: Banks Recapitalisation (24 Jan 2013)

Pearse Doherty: To ask the Minister for Finance the value that a shareholding the €1 billion CCNs in Bank of Ireland earlier this month would have if they were realised as ordinary shares in the bank. [3480/13]

Written Answers — Department of Finance: Banking Sector Remuneration (24 Jan 2013)

Pearse Doherty: To ask the Minister for Finance when the Mercer report on bankers' pay will be published. [3481/13]

Education (Welfare) (Amendment) (No. 2) Bill 2012: Second Stage (Resumed) [Private Members] (23 Jan 2013)

Pearse Doherty: I commend Deputy Jonathan O'Brien for introducing this Bill. It is timely and I am encouraged that the Government plans to deal with this in its publication next week. There is no reason, however, why the Bill cannot be supported and allowed to go ahead to Committee Stage, where any necessary amendments can be made. This legislation is overdue. Guidelines from the 1990s are not...

Written Answers — Department of Public Expenditure and Reform: Departmental Websites (23 Jan 2013)

Pearse Doherty: To ask the Minister for Public Expenditure and Reform the way the user experience element of the new eTenders website differs from the previous website; and if he will make a statement on the matter. [3061/13]

Written Answers — Department of Public Expenditure and Reform: Departmental Websites (23 Jan 2013)

Pearse Doherty: To ask the Minister for Public Expenditure and Reform if he is planning to hold any future briefing sessions for interested parties regarding using the new eTenders website; and if he will make a statement on the matter. [3060/13]

Written Answers — Department of Finance: Departmental Staff (23 Jan 2013)

Pearse Doherty: To ask the Minister for Finance the number of officials in his Department that have moved into jobs in the financial sector in the last two years and the cooling off period which was applied to these officials during their moves. [3356/13]

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