Results 501-520 of 1,591 for speaker:Eugene Regan
- Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)
Eugene Regan: We dress up the defence of the Government but I must take issue with the criticism Senator Harris made of the business plan. In the debate last night a Minister said that the Minister, Deputy Lenihan, never said that NAMA would definitely make a profit yet we have a business plan which suggests a net profit of â¬5.48 billion over the ten years. Senator Harris is saying it is not relevant...
- Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)
Eugene Regan: -----and that it is not relevant whether it makes a profit or not.
- Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)
Eugene Regan: It is fundamental. We may not vet it in this House but they will vet it in the European Commission when the Government gets around to trying to sell this.
- Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)
Eugene Regan: The word "may" in a Bill can mean "shall" but in this instance it does not. I suggest the Minister could cut short the debate on this entire section by changing the word "may" to "shall". I understood this was part of the undertaking given to the Green Party and part of the Government-Green Party new deal that there were to be commitments on lending. This was a watered down version of that...
- Seanad: Order of Business (11 Nov 2009)
Eugene Regan: Senator Bacik wishes to make a point of order.
- Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)
Eugene Regan: It is an interesting provision. We are discussing delegated legislation and it underscores the importance of compliance with EU state aid and competition law. We received confirmation from the Minister, Deputy Brian Lenihan, yesterday that all the valuation methods, the figure calculations and the assumptions must be verified by the European Commission and approved before this scheme...
- Seanad: Order of Business (11 Nov 2009)
Eugene Regan: I wish to highlight two issues in regard to the NAMA debate and put a question to the Leader. While we are none the wiser with regard to much of the detail of the Bill, the presence of various Ministers in the House yesterday showed up some extraordinary differences of views within the Government.
- Seanad: Order of Business (11 Nov 2009)
Eugene Regan: We had an answer indicating that NAMA would not make a profit. When I challenged the Minister in question on that point by noting that the Minister for Finance, Deputy Brian Lenihan, was proud to project that it would make a net profit of â¬4.8 billion over the ten years-----
- Seanad: Order of Business (11 Nov 2009)
Eugene Regan: -----he said it was not definite it would make a profit. I find this extraordinary and believe it shows up the unreality of the business plan which the Government brought forward only weeks ago. I ask the Leader to clarify the point. Is it the view of the Government that NAMA will not make a profit over the ten-year period or is it that it will make this extraordinary projected net profit...
- Seanad: Order of Business (11 Nov 2009)
Eugene Regan: However, I welcome one thing that has emerged from the debate, namely, the clarification from the Minister, Deputy Brian Lenihan, that whatever we decide has to be formally notified to the European Commission. All of the assumptions, valuations and haircuts will be examined and vetted by the Commission under its state aid rules and nothing can happen or go ahead until the European Union...
- Seanad: Order of Business (10 Nov 2009)
Eugene Regan: I also want to refer to the one-year extension to be given by the European Commission for Ireland to get its structural deficit in order. It has had to adopt measures amounting to â¬4 billion in each of the three years, 2010, 2011 and 2012, and â¬3 billion in 2013 and now that is being extended because of the shortfall in tax revenues this year, which have further worsened the position. I...
- Seanad: Order of Business (10 Nov 2009)
Eugene Regan: The figures were selected to suit the conclusions. That is rather shocking.
- Seanad: National Asset Management Agency Bill 2009: Second Stage (9 Nov 2009)
Eugene Regan: It is not 100% in the United Kingdom.
- Seanad: National Asset Management Agency Bill 2009: Second Stage (9 Nov 2009)
Eugene Regan: The Minister for Finance, Deputy Brian Lenihan, stated that we should not focus on generalities but rather concentrate on the details of the Bill. Notwithstanding that this is Second Stage, it is appropriate to consider the general picture and to stand back from the detail. One can become lost in that detail. When, however, one steps back and considers what is the basic road down which the...
- Seanad: National Asset Management Agency Bill 2009: Second Stage (9 Nov 2009)
Eugene Regan: Much of the debate on this legislation has concerned the extent to which the loan values will be written down and, therefore, the extent of the subsidy to the banks. However, there is an issue with regard to the funding of this project - the bonds which are provided to the banks, which will be at 0.5% or 1% above European Central Bank rates. We are, essentially, borrowing short and lending...
- Seanad: Order of Business (9 Nov 2009)
Eugene Regan: We are discussing the National Asset Management Agency Bill 2009 today and information that is essential to have a proper debate on this Bill should be provided by the Minister for Finance. We are essentially adopting a framework decision with this Bill, but it all operates within the EU state aid guidelines. Those guidelines provide that aid given to financial institutions is either repaid...
- Seanad: Order of Business (9 Nov 2009)
Eugene Regan: Therefore, the issue of recovering funds from the banks for the subsidisation given-----
- Seanad: Order of Business (9 Nov 2009)
Eugene Regan: -----in the context of NAMA is not dealt with in the Bill.
- Seanad: Education and Training Responses to the Economic Downturn: Statements (5 Nov 2009)
Eugene Regan: Most of them were irrelevant.
- Seanad: Education and Training Responses to the Economic Downturn: Statements (5 Nov 2009)
Eugene Regan: I thank the Minister of State for coming to the House. This Bill, which has Fine Gael's support, is designed to modernise and improve efficiency in the courts. It has been necessitated by the need to ensure the new Criminal Courts of Justice complex operates effectively and functions appropriately. The building of the aforementioned complex is a wonderful development and will be beneficial...