Results 7,641-7,660 of 19,445 for speaker:Brian Cowen

Leaders' Questions (18 Feb 2009)

Brian Cowen: ——and that we have confidence in those investigating the matter, in particular in regard to the Office of the Director of Corporate Enforcement, who has the statutory authority on the basis of that examination to appoint a High Court inspector and to proceed. If that is his requirement and he includes two members of the Garda from the fraud squad in his staff, he will proceed with that...

Leaders' Questions (18 Feb 2009)

Brian Cowen: My recollection is that it was a professional body but I will check it.

Leaders' Questions (18 Feb 2009)

Brian Cowen: I have nothing to hide anyway.

Leaders' Questions (18 Feb 2009)

Brian Cowen: The reason Anglo Irish Bank got into difficulty is that the business model it had required obtaining borrowings——

Leaders' Questions (18 Feb 2009)

Brian Cowen: The Deputy's leader has had a chance to speak for ten minutes.

Leaders' Questions (18 Feb 2009)

Brian Cowen: If the Deputy does not mind me saying a few words——

Leaders' Questions (18 Feb 2009)

Brian Cowen: I am entitled to answer and to defend myself.

Leaders' Questions (18 Feb 2009)

Brian Cowen: The suggestion that we have a financial crisis in Ireland because of the CFD position is really stretching things.

Leaders' Questions (18 Feb 2009)

Brian Cowen: Let me answer.

Leaders' Questions (18 Feb 2009)

Brian Cowen: In regard to what happened in Anglo Irish Bank, the problem was that the international credit crunch brought about a situation where its business model came under immediate pressure and the market made a decision on that. Its perceived exposure on the construction side was regarded as another negative but the idea that it was just in regard to the CFD issue is stretching things considerably....

Leaders' Questions (18 Feb 2009)

Brian Cowen: The source of instability which that created was being resolved. Deputy Kenny has suggested that the ultimate amount involved could be of the order of €300 million, but the problems in Anglo Irish Bank were far greater than that. While it is a very large figure, in the context of overall banking stability it will not have the impact suggested by the Deputy. It would be better for us to...

Leaders' Questions (18 Feb 2009)

Brian Cowen: I have answered the question. The contention of Deputy Gilmore was that the CFD position of itself has brought about a situation——

Leaders' Questions (18 Feb 2009)

Brian Cowen: He made that contention very clearly and the record will show what he had to say.

Leaders' Questions (18 Feb 2009)

Brian Cowen: I did not interrupt when he was making his comments.

Leaders' Questions (18 Feb 2009)

Brian Cowen: The CFD position is not the reason we have a financial crisis in Ireland and if that is the contention, it is wrong.

Leaders' Questions (18 Feb 2009)

Brian Cowen: The truth is that was not the situation.

Leaders' Questions (18 Feb 2009)

Brian Cowen: Of course it did not help the situation, but that source of instability was dealt with in July and August through the mechanism we have just been discussing. However, the problem now is that an aspect of the nature of that transaction is under investigation. Those are the facts with regard to the CFD position and the unwinding of the shareholding by Quinn in that bank with regard to that...

Departmental Expenditure. (18 Feb 2009)

Brian Cowen: I propose to take Questions Nos. 1 and 2 together. The projected cost of the communications unit in 2009 is €294,083, with €153,038 being a direct cost to my Department and €47,005 on average being borne by three other Departments which have staff seconded to the unit. The cost for the unit in 2008 was €302,235. The role of the communications unit is under continuous review in terms...

Departmental Expenditure. (18 Feb 2009)

Brian Cowen: Tenders have been received and are currently being considered. No decision has been taken yet. A decision on whether to proceed on this basis will be taken shortly.

Departmental Expenditure. (18 Feb 2009)

Brian Cowen: I have been examining whether a viable alternative solution that would achieve the same objectives as the unit is available. I issued a tender for a centralised Government contract for the provision of a press cutting and media monitoring service for all Departments. Tenders are being considered currently and a decision will be taken shortly.