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Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Marc MacSharry: Today at 4.15 p.m. Report Stage ordered for Wednesday, 11 November 2009.

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Marc MacSharry: I support the amendment. I also support the general concept of establishing a credit mediator. However, I do not know whether it will be possible to allow for the setting up of such an entity under this legislation. In the section, the term "may" rather than that of "shall" is used in respect of the Minister issuing guidelines. It is clear that an amendment will not be tabled in respect...

Seanad: National Asset Management Agency Bill 2009: Committee Stage (10 Nov 2009)

Marc MacSharry: I agree with Senator O'Toole totally in that we have enough Oireachtas committees. That is not to say we could not re-jig the make-up of some to focus on the implementation of the sections of the Bill that are most appropriate. It is vital that there be as much accountability as possible. The Minister could consider the idea of the French model of the credit mediator. It would be good,...

Seanad: Order of Business (10 Nov 2009)

Marc MacSharry: I join Senators in calling for a debate on assisting families who find themselves defaulting on their mortgages. I also welcome the Irish Banking Federation statement of intent. It assures people who are in difficulty that if they communicate with the bank, a mutually acceptable way can be found for dealing with the problems. However, not every bank is affiliated to the Irish Banking...

Seanad: National Asset Management Agency Bill 2009: Second Stage (9 Nov 2009)

Marc MacSharry: One need not work in RTE to know something about economics.

Seanad: National Asset Management Agency Bill 2009: Second Stage (9 Nov 2009)

Marc MacSharry: I welcome the Minister and pay a personal tribute to the great effort he has been making in the past year to overcome unprecedented difficulties. I am sure it has been quite a substantial sacrifice for him and his family. I thank him for his efforts, his enthusiasm and his determination to find the appropriate solution to these problems. I am a fan of NAMA. Anybody in this House over the...

Seanad: National Asset Management Agency Bill 2009: Second Stage (9 Nov 2009)

Marc MacSharry: I do not interrupt anybody in the House. We had an unprecedented period of growth in this country over many years. All sides of the House at all times always called for more expenditure, more services and higher wages, even though pay and expenditure were being increased across the board. All of this was in a situation where money was available at 2% from the ECB at growth levels of 8% to...

Seanad: National Asset Management Agency Bill 2009: Second Stage (9 Nov 2009)

Marc MacSharry: To do that would undermine due process as well as our ability to get through this and tap into the national expertise and talent that exists. Many people throughout the banking system, politics, the public service, the Opposition and the Government have things to offer in this debate. Just because people worked for a particular institution or have a particular political affiliation does not...

Seanad: National Asset Management Agency Bill 2009: Second Stage (9 Nov 2009)

Marc MacSharry: I apologise. In any event, everybody agrees, irrespective of whether he or she is prepared to admit it publicly, that NAMA is the correct approach. It is the approach we must continue to tease out and improve in the Houses over the coming days. It is the most appropriate and best vehicle to get our financial system moving again while at the same time protecting taxpayers and the public...

Seanad: Education and Training Responses to the Economic Downturn: Statements (5 Nov 2009)

Marc MacSharry: I wish to share time with Senator Ann Ormonde.

Seanad: Education and Training Responses to the Economic Downturn: Statements (5 Nov 2009)

Marc MacSharry: I will be as quick as I can.

Seanad: Education and Training Responses to the Economic Downturn: Statements (5 Nov 2009)

Marc MacSharry: As the Minister of State is well aware, a number of other people and I have put forward what we envisage as a proposed entrepreneurship education strategy for Ireland. Those people include business people, entrepreneurs and educators such as DIT entrepreneurship lecturer, Dr. Thomas Cooney. A 12-point plan was included in this strategy. I know the Minister is familiar with that and I want...

Seanad: Mortgage and Debt Support Measures: Motion (4 Nov 2009)

Marc MacSharry: Senator O'Reilly means "even more valuable".

Seanad: Mortgage and Debt Support Measures: Motion (4 Nov 2009)

Marc MacSharry: A mea culpa from Senator Buttimer is a rare occasion.

Seanad: Mortgage and Debt Support Measures: Motion (4 Nov 2009)

Marc MacSharry: I move amendment No. 1: To delete all words after "Seanad Éireann" and substitute the following: "—notes that legal repossessions of home owners reported by the institutions covered by the Guarantee amount to 20 in the first nine months of this year; notes that the Mortgage Interest Subsidy scheme provides an important safety net for mortgage borrowers who get into difficulties and that...

Seanad: Mortgage and Debt Support Measures: Motion (4 Nov 2009)

Marc MacSharry: ——for non-payment of a debt due to refusal to pay or culpable wilful neglect. It is something I very much welcome on the private debt side, in terms of credit cards and similar products, but such a provision should not apply to mortgages. I would like to see a proposal along the lines of that which we made in our report to the Minister. I am glad to see the amendment I moved states the...

Seanad: Planning and Development (Amendment) Bill 2009: Second Stage (Resumed) (4 Nov 2009)

Marc MacSharry: I welcome the Minister. I have not had the pleasure of being here for most of the Second Stage debate. While I am familiar with some of the provisions of the Bill, I want to use this opportunity to make a few general points on planning. I am from the north west, namely, the gateway city of Sligo. I am very focused on the issue of balanced regional development. The wish for those of us who...

Seanad: Planning and Development (Amendment) Bill 2009: Second Stage (Resumed) (4 Nov 2009)

Marc MacSharry: I propose an amendment to the Order of Business to extend the time allowed by ten minutes to allow the Minister to conclude.

Seanad: Order of Business (4 Nov 2009)

Marc MacSharry: On the issue of social partnership, I agree with Senator O'Toole. A solution can always be found and at this moment in time our determination and confidence in a solution will be our ability to find one. We must focus on that and be confident that there is a solution. In recent weeks I and other Members of the House — Senators O'Toole and Bradford mentioned it — have inquired as to the...

Seanad: Order of Business (3 Nov 2009)

Marc MacSharry: I welcome the three days that have been set aside for the NAMA debate next week. I am sure Members will sit late into the night to ensure a full airing of all the amendments proposed. I also welcome the proposed break in order that Members can prepare their thoughts for it. The Opposition parties, including Fine Gael, the Labour Party and others, can work on their amendments, which Members...

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