Results 5,521-5,540 of 6,295 for speaker:Michael D'Arcy

Seanad: Statements on Finance (6 Oct 2011)

Michael D'Arcy: I have a number of questions to ask. When we look back and wonder how we got to this place, it is clear that it is from the calamitous decisions made by the previous Government. I am sorry, Senator O'Brien, but there are no two ways about it. We see that the Sinn Féin policies are more akin to voodoo economics than any version of real economics. The Minister's time at the Department of...

Seanad: Statements on Finance (6 Oct 2011)

Michael D'Arcy: A Greek tragedy.

Seanad: European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011: Second Stage (22 Sep 2011)

Michael D'Arcy: Now.

Seanad: European Financial Stability Facility Bill and Euro Area Loan Facility (Amendment) Bill 2011: Committee and Remaining Stages. (22 Sep 2011)

Michael D'Arcy: It is positive that we have reached the conclusion of the debate. I agree with other Members that legislation should not be concluded in one day. It is difficult to complete analysis of Bills to ensure there are no loopholes in them. Our role is to scrutinise legislation. This has happened twice in the past week but I do not know if anything could have been done in the context of...

Seanad: European Financial Stability Facility Bill and Euro Area Loan Facility (Amendment) Bill 2011: Committee and Remaining Stages. (22 Sep 2011)

Michael D'Arcy: Absolutely. I heard the discussion about an orderly exit. If that has to happen, legislation will be debated in the House and it will get a good hearing. I thank the Minister of State. I have been critical of the Department of Finance in the past but its officials have upped their game and I anticipate they will continue in that vein.

Seanad: European Financial Stability Facility Bill and Euro Area Loan Facility (Amendment) Bill 2011: Committee and Remaining Stages. (22 Sep 2011)

Michael D'Arcy: Down from 14%.

Seanad: European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011: Earlier Signature Motion (22 Sep 2011)

Michael D'Arcy: I move: That pursuant to subsection 2° of section 2 of Article 25 of the Constitution, Seanad Éireann concurs with the Government in a request to the President to sign the European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011 on a date which is earlier than the fifth day after the date on which the Bill shall have been presented to her.

Seanad: European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011: Second Stage (22 Sep 2011)

Michael D'Arcy: It is no pleasure to discuss this Bill, but we are doing so because of the position in which we find ourselves. Much of that position is self-inflicted. Senator Byrne was part of the infliction when his party was in government. He voted for his Government's appalling decisions. We must consider some of the facts that are relevant to the context of our being here today. The euro has been a...

Seanad: European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011: Second Stage (22 Sep 2011)

Michael D'Arcy: The Taoiseach, Tánaiste and Minister for Finance have been travelling to re-establish diplomatic ties with countries with which diplomatic relations have failed. We now have friends again in Europe and that is a result of six to eight months of very hard negotiations.

Seanad: European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011: Second Stage (22 Sep 2011)

Michael D'Arcy: It should be noted that this work is not easily measured but it should be stated clearly-----

Seanad: European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011: Second Stage (22 Sep 2011)

Michael D'Arcy: -----that it is bringing us forward and putting us in a position where we are obtaining a result rather than a bad negotiating position.

Seanad: Insurance (Amendment) Bill 2011: Second Stage (15 Sep 2011)

Michael D'Arcy: My colleague, Senator Byrne, always amazes me in terms of how short his memory is. His memory was short about the previous Financial Regulator, Mr. Patrick Neary, the guy who was in office for years who was appointed by the previous Governments, who did not do his job.

Seanad: Insurance (Amendment) Bill 2011: Second Stage (15 Sep 2011)

Michael D'Arcy: The reason we are in this position is there was no regulation. The former regulator was freewheeling and business was conducted as the company saw fit. As the Senator will note, the 2009 figures for Quinn Insurance show a loss of €905 million, there was a loss of €160 million in 2010 and the loss for 2011 is as yet unknown. That is why we are here. That is why we are passing...

Seanad: Insurance (Amendment) Bill 2011: Second Stage (15 Sep 2011)

Michael D'Arcy: As a cheerleader for the previous Government, the Senator stood up for it on national radio and television time and again.

Seanad: Insurance (Amendment) Bill 2011: Second Stage (15 Sep 2011)

Michael D'Arcy: As I said, Senator Byrne was a primary cheerleader for the previous Government in the other Chamber. We are here as a result of €280 million being required for the insurance compensation fund. Capitalism in Ireland is unique; when a company makes a profit, it pays corporation tax and the dividend is paid, in whatever form, to the directors or shareholders, but when it makes a loss, it is...

Seanad: Insurance (Amendment) Bill 2011: Committee and Remaining Stages (15 Sep 2011)

Michael D'Arcy: On Tuesday, 20 September at 2.30 p.m.

Seanad: Family Home Bill 2011: Second Stage (27 Jul 2011)

Michael D'Arcy: Having a house or property repossessed leaves a scar on the Irish psyche. The number of repossessions is low compared with the number in the United Kingdom. In 2008 there were 40,000 house repossessions in the United Kingdom, but that number climbed to near 80,000 in 2009. I have been unable to find the figures for 2010. In Ireland the number of repossessions is low; it is not even up to...

Seanad: Finance (No. 3) Bill 2011 (Certified Money Bill): Second Stage (13 Jul 2011)

Michael D'Arcy: I hate to stand up after two Members have spoken to say effectively the same thing. It is not often that this happens. I was in the Dáil with Minister of State, Deputy Hayes, and Senator O'Brien, then a Deputy, when the civil partnership legislation went through and I saw the cross-party consensus for it. It was a genuine consensus rather than, as is sometimes the case, a pretence of...

Seanad: Order of Business (7 Jul 2011)

Michael D'Arcy: The Order of Business is a shambles and a joke, and it is getting worse. I have been a Member only a few weeks but if this continues there will be no need to worry about retaining the Seanad. It will be gone. Unless it improves it will be a good riddance, as far as I am concerned. I take no pleasure in saying this. It looks as though the ECB will raise interest rates by 0.25% and that the...

Seanad: Order of Business (7 Jul 2011)

Michael D'Arcy: I have a question for the Leader. Would he consider inviting the Governor of the Central Bank and the Financial Regulator to attend the House for a debate on the procedures taken by Irish institutions, which are funded by the taxpayer, when the ECB raises interest rates? We must ensure that people who have loans from Irish banks are not ripped off. The debate should be narrow, so that...