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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Kieran O'Donnell: Have any of the institutions that the Central Bank has written to at this point come back and said they have no particular accounts where this issue arises of people on trackers being moved to fixed rates? Are there any banks or financial institutions where this is not an issue?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Kieran O'Donnell: Therefore, would it not be fair to say that this practice, as Deputy McGrath said, is endemic throughout the banks?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Kieran O'Donnell: If the banks were looking in today, and I do not mean any disrespect to Professor Lane, I would not think they would be shivering in their boots. They appear to be dictating the time. As this stage, this has gone on relatively unchecked for the past five or six years. The Central Bank does not appear to have anyone in the banks at this time. It has required bringing in external advice. I...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

Kieran O'Donnell: I ask that in the first quarter we would extend an invitation to Professor Lane and his colleagues to come back to give us an update on the position. We have no option. This is of such magnitude that we owe it to the people effectively to step in to make sure the process is moving at a pace. I take Professor Lane's point on the initial contracts that were set up with the banks. However,...

Seanad: Order of Business (15 Dec 2016)

Kieran O'Donnell: I wish everyone a happy Christmas.

Seanad: Order of Business (15 Dec 2016)

Kieran O'Donnell: I agree with Senator Devine and extend my compliments to the public and private sector workers who will be working over the Christmas break in Limerick and other areas. Senator Norris referred to intelligence. I thought, given the large influx of females to the House, that the average intelligence would have been brought way up. I thought he would have reflected on that.

Seanad: Order of Business (15 Dec 2016)

Kieran O'Donnell: I refer to rents. I am glad to see that common sense has prevailed in the Dáil and that the Bill will be debated later today and tomorrow. My area, Limerick city, has not been included, but I would have liked it to have been. I have spoken to the Minister, Deputy Coveney, about the matter. He has agreed that it would be prioritised. There is a long way to go. We do not always need...

Seanad: Order of Business (15 Dec 2016)

Kieran O'Donnell: Good man.

Seanad: Order of Business (15 Dec 2016)

Kieran O'Donnell: They were intelligent contributions.

Seanad: Order of Business (14 Dec 2016)

Kieran O'Donnell: The moral of the story.

Seanad: Order of Business (14 Dec 2016)

Kieran O'Donnell: I wish to respond to Senator Rose Conway-Walsh who referred how what was being done was not in the spirit of new politics. It is a pity that she is not in the Chamber. If Sinn Féin believes so strongly in new politics, it is incumbent on Deputy Gerry Adams, given the brutal murder of Brian Stack, to come forward and disclose-----

Seanad: Order of Business (14 Dec 2016)

Kieran O'Donnell: It is important as we hear the phrase being bandied about constantly. If Sinn Féin is so keen on having a truth and reconciliation commission, with which I have no issue-----

Seanad: Order of Business (14 Dec 2016)

Kieran O'Donnell: No, I am not.

Seanad: Order of Business (14 Dec 2016)

Kieran O'Donnell: I know Gerry McCabe's widow, Ann McCabe, well and know the suffering she has gone through. Gerry McCabe and Brian Stack were carrying out their duties on behalf of the State. If Sinn Féin believes in new politics so much, Deputy Gerry Adams should come forward and help in the Brian Stack murder case. I say this because Sinn Féin is bandying about the phrase "new politics" too much.

Seanad: Order of Business (14 Dec 2016)

Kieran O'Donnell: It is very relevant.

Seanad: Finance Bill 2016: Report and Final Stages (14 Dec 2016)

Kieran O'Donnell: I thank the Minister of State for coming to the House. We had lengthy debates on Second and Committee Stages and many issues have been ironed out. The general thrust of the legislation is to look at making work pay, which is about reducing the USC. The Bill includes a range of other measures. The Minister of State has given a commitment he will review various aspects of the Bill over...

Seanad: Finance Bill 2016: Report and Final Stages (14 Dec 2016)

Kieran O'Donnell: The legislation that was introduced is very welcome but we must ensure the structure that is now in place for loans sold on to foreign entities, colloquially known as vulture funds, works. We must ensure the mechanism works. I hope it will, but if it does not work then we must review it and see whether we can make further changes to it to ensure it works.

Seanad: Cystic Fibrosis Treatment: Statements (8 Dec 2016)

Kieran O'Donnell: I welcome the Minister to the House. This is an extremely important issue. To bring it down to basics, people with cystic fibrosis did not wake up one morning and say, "I want cystic fibrosis". I know many people with the condition. I am thinking in particular of a young woman in her early 20s. She is in college and is bright and articulate. I have spoken to her about Orkambi as she...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Kieran O'Donnell: I wish to take up a few points. Mr. Sheridan, you said earlier that the Central Bank had limited powers if mortgages are bought by a vulture fund. Let us say you are dealing with a mortgage holder with one of the pillar banks who has an issue with that institution and, at the same time, you are dealing with a mortgage holder who has a similar mortgage with a vulture fund who has the same...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Kieran O'Donnell: That is with any of the banks.

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