Results 981-1,000 of 16,537 for speaker:Brian Lenihan Jnr
- Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)
Brian Lenihan Jnr: That is true in the present circumstances. In any event, the considerations that determine the appropriate rate of interest vary enormously depending on whether it is short-term, three year, six year or nine year funding. One must also remember that in respect of Ireland's application we are dealing with three different funds, all of which have different rules on the appropriate computation...
- Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)
Brian Lenihan Jnr: I am not entering into the substance of the negotiations on this issue at this stage. I am simply pointing out that in relation to Greece an arrangement was made for three year money which was very disadvantageous for that country. We do not want such an arrangement for Ireland.
- Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)
Brian Lenihan Jnr: In general terms, longer-term money gives greater security. It is also important to bear in mind that Greece was facing an immediate funding wall for what I will describe as the Greek Exchequer. I am not sure if the term "Exchequer" is used in Greece. We should use "Central Fund", the term used in the Constitution. The expression "Exchequer" has survived in our financial procedures. The...
- Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)
Brian Lenihan Jnr: Correct.
- Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)
Brian Lenihan Jnr: A number of issues were raised. First, Deputy Burton raised the question regarding the funding cliff. I agree with the Deputy that this is a very important question. As I said a few moments ago, at the heart of this discussion must be our future debt dynamics and the impact of such lending on them. As for the letter of intent, the plan being published tomorrow is a four-year plan for...
- Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)
Brian Lenihan Jnr: No, funnily not. It is just the usual textual tidying up that happens at the conclusion of the drawing up of a document. This remains to be done and I undertake to give the Opposition spokespersons a copy as early as I can tomorrow morning. However, the reason for the delay in furnishing them with copies is that much textual work went on in the document over the last 24 hours and final...
- Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)
Brian Lenihan Jnr: That is a matter for the talks.
- Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)
Brian Lenihan Jnr: It may well, but again the key point-----
- Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)
Brian Lenihan Jnr: It is an important point and I can clarify it for the Deputy quickly. It is not the formal letter of intent.
- Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)
Brian Lenihan Jnr: Yes, it is the basis but it is not in itself the formal letter of intent. Deputy Morgan asked about the issue of the contingent character of the funds and Deputy O'Donnell also touched on this point when he asked for a breakdown between the different facilities. A precise breakdown between the facilities has not been agreed. In reply to Deputy Morgan question regarding the contingent...
- Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)
Brian Lenihan Jnr: The State could fund itself in any event for the earlier half of next year and could return to the markets during their programme, were there sufficient market confidence, and raise funds for itself. That is the contingent character of the State funds. Moreover, the type of funds that may be required are clearly known from the size of Ireland's Exchequer deficit and projected Exchequer...
- Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)
Brian Lenihan Jnr: I welcome the opportunity to provide the House with information on developments regarding the Government's request for financial assistance and the meetings of the eurogroup and ECOFIN on 21 November 2010. The Government welcomes the decision of our European Union partners to provide assistance to Ireland, not only to address the banking and budgetary challenges we face but also to safeguard...
- Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)
Brian Lenihan Jnr: It was Deputy Noonan's party leader who requested me to make a statement on this.
- Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)
Brian Lenihan Jnr: I am responding to Deputy Noonan's party leader. I am not aware of any particular difficulties; I am making this statement in response to a request by Deputy Noonan's party leader. I have met this request, which was a reasonable request to make, and I am simply making clear what the position is. The position is that the necessary cash is provided for the Irish banking system through the...
- Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)
Brian Lenihan Jnr: It was not said with venom.
- Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)
Brian Lenihan Jnr: Shame on the Deputy.
- Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)
Brian Lenihan Jnr: I cannot comment on the events. I witnessed them.
- Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)
Brian Lenihan Jnr: There will be an opportunity for questions.
- Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)
Brian Lenihan Jnr: They are not agreed yet.
- Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)
Brian Lenihan Jnr: Wrong location.