Results 32,581-32,600 of 35,959 for speaker:Pearse Doherty
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: Of course. It is based on the premise that the IBRC's loan book will have been sold off and wound down at that stage and that the IBRC will have nothing left by 2020 in terms of the ELA liability and the promissory note. If the figure of €25 billion is correct, 2020 will be the point at which this should have been achieved and the bank could be closed down.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: Will Mr. Bradley tell the committee the total payment to be made in March, including the Government bond?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: Yes.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: In respect of its purchase by Bank of Ireland, does the agreement stipulate that it will only hold it for one year?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: It is a payment of €3.1 billion on 31 March, with another payment of €3.3 billion in June 2013?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: There has been much discussion about the restructuring of the promissory note. One of the suggestions involves the use of the ESM, although it is very unlikely, given what the Germans and others have said, or another agency for a long-term bond. This would mean that the €25 billion in capital the bank requires could be front-loaded as a long-term bond. If that was to happen, has the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: It has been mentioned before at this committee that the restructuring of this note could cost the State more money in the immediate term and have an impact on the banks. Is the bank not directly involved in the discussions with the Minister for Finance?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: I am well aware of that. Sinn Féin recently met the troika which informed us that there was no common paper, that there was a number of individual papers. The Government and the ECB have their own papers. Has the bank's opinion been sought on any or all of these papers on how it would work for it?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: Mr. Dukes said there had been quite a reduction in staff number-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: I will be quick. About 25% of the staff at the time of nationalisation are in place. This time last year the bank informed me that 22 of the top 50 executives within it at the time of nationalisation were still in place. A total of 19 of them were being paid over €175,000. Will Mr. Dukes give us an updated figure for how many of the top 50 executives at the time of the crash are...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: I note that staff costs have actually come down by 4% compared to this time last year, from €56 million to €54 million if my figures are correct. However, there has been a drastic reduction in staff numbers over a number of years. Are staff receiving pay increases or performance bonuses? Why are staff costs not coming down in proportion with the reduction in staff numbers?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: What is the highest paid position within the bank in monetary terms?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: In monetary terms - I was not looking for the title. We could all have guessed it was the chief executive officer.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: What is the highest salary in the bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: Is that the base salary?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: As I know this is personal, it may be difficult, but does Mr. Aynsley think it is appropriate that the State should pay out that type of money when the country is bust? A report from the Society of St Vincent de Paul states 1.8 million people have less than €100 left over at the end of each month. Does Mr. Aynsley think it is appropriate that the State should continue to pay that...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: I thank the witnesses for the presentation. I appreciate the job they have at hand. Along with other members of this committee, I ask many parliamentary questions, which are sometimes unrelenting as the witnesses mentioned in the earlier address. It is important that we, as legislators, do that. When we consider where NAMA has found itself in recent weeks, sometimes when we think the ship...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Pearse Doherty: At the end of March each year, the State provides €3.1 billion, some of which is in interest given how the pro-note is structured and some of it is in capital. IBRC takes the €3.1 billion and transfers that to the Central Bank to pay down the liabilities it has to the euro system in the Central Bank of Ireland. The bank does not retain any of the interest paid.
- Leaders' Questions (25 Oct 2012)
Pearse Doherty: The Labour Party Minister of State resigned over this.
- Leaders' Questions (25 Oct 2012)
Pearse Doherty: Did the Tánaiste know about the meeting?