Results 981-1,000 of 1,974 for speaker:Arthur Spring
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)
Arthur Spring: I am trying to keep this simple, but that is the question.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)
Arthur Spring: I fully accept that the situation has to be dealt with on a case-by-case basis. It is not like NAMA and the developers. I will outline how it adds up. If a system were put in place by international bodies that were brought in to quantify the magnitude of the problem within the individual banks, then fundamentally, I want Bank of Ireland and AIB to use every penny of that and to give my...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)
Arthur Spring: Just give me one second. The Governor can speak as much as he wants, but I get a restricted amount of time. I do not care if we have to write a new law but it is imperative that my generation gets a break, that the banks and institutions are put on the line for the full quantum and that we do not end up in a situation whereby AIB uses €3 billion and Bank of Ireland uses €500...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)
Arthur Spring: I am the Government. I do not want to see any of it back. I want to see the whole lot of it used for the purposes of that generation getting a break. Can we facilitate that and is that Professor Honohan’s remit?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)
Arthur Spring: I will find a way to ensure that every single penny of the money is drawn down and that my generation gets out of the fix. It is incumbent upon the Governor, who has said to the committee today that management in certain banks were mismanaging their authority in their organisations-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)
Arthur Spring: Has there been an internal investigation in any of those banks?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)
Arthur Spring: Has there been an internal investigation-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)
Arthur Spring: -----in any bank in Ireland?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)
Arthur Spring: In which one?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)
Arthur Spring: When the banks were before the committee I asked Bank of Ireland if it had an internal investigation and it said that it had not. I am perplexed as to why the Governor does not know whether there have been internal investigations.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)
Arthur Spring: Yes, but Professor Honohan is the Governor of the Central Bank and the banks operate under a licence provided by the Government. It is the most important licence this country has the capacity to provide. If those who have licences are acting in such a way as to mislead or mismanage, the effects are enormous beyond all proportion, as we are finding out now. I want to know why there has not...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)
Arthur Spring: I am looking for justice. I want this generation to see the banks have been held accountable, that the mismanagement of systems by the Government and banks is something that will not happen again and that those who were responsible will be held accountable. We must put systems in place to ensure that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)
Arthur Spring: I have about 45 seconds left on the clock. The Insolvency Service of Ireland has given mortgage holders of my generation the capacity to play hardball. However, if one is a personal insolvency trustee it is to one’s benefit to put the argument that the person should accept what the bank is providing because ultimately the trustee wants the mortgagee to take it because he or she gets...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)
Arthur Spring: My generation want a line in the sand. People want certainty. They do not want to find out that they have to deal with something again six months later. The mental and economic capacity of our generation to contribute to society as we want hinges on this issue. The fate of my generation is decided by Professor Honohan’s ability as Governor of the Central Bank to ensure that the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)
Arthur Spring: I agree but certain parts of it need to be fixed. I thank the Governor of the Central Bank for attending the committee. There is nothing personal in what I have said. This is something we really need to solve. I could speak about the matter for hours on end.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)
Arthur Spring: I welcome Professor Honohan, Governor of the Central Bank, back before the committee. Will he indicate if he is aware of the quantum of money that was written down by the banks in order to transfer developers' loans to NAMA?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)
Arthur Spring: In March 2011, BlackRock International carried out a stress test and identified the fact that a problem existed with regard to the mortgages held by many of the banks. Is Professor Honohan aware of the quantum involved in that regard?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)
Arthur Spring: There is a purpose to my question. Professor Honohan does not have to provide the numbers, I am simply asking whether he is aware of them.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)
Arthur Spring: I thank Professor Honohan. I am led to believe that the amount involved is in the region of €9.4 billion. Last week the Department of Finance identified the quanta that were allocated to the different banks. For example, it was indicated that Bank of Ireland has a problem to the tune of approximately €2.4 billion and that the amount relating to AIB is in the region of...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)
Arthur Spring: I presume the same stress tests, etc. were used in respect of the various banks. Is that an accurate conclusion on my part?