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Seanad: Delivering Sustainable Full Employment: Statements (16 Jun 2016)

Kieran O'Donnell: I wish the Leas-Chathaoirleach well. I expect he will perform his role with great aplomb. I also congratulate the Minister, Deputy Mary Mitchell O'Connor, on her appointment. In the brief time I have, I want to speak about what I know, which is the constituency I represent, Limerick, and on the theme of sustaining full employment. Many jobs have been created over the past three to five...

Seanad: Order of Business (15 Jun 2016)

Kieran O'Donnell: I congratulate the Cathaoirleach and the Leader of the House, Senator Buttimer, on his appointment. Reference was made to Seanad reform. I think Senator Ó Céidigh spoke about how this Chamber is very diverse in terms of Members' array of talents. Seanad reform is key but the items the House deals with are more fundamental than that. This week is national carers' week. Senator...

Joint Committee of Inquiry into the Banking Crisis: Statements (28 Jan 2016)

Kieran O'Donnell: It was a privilege to have been involved in this cross-party banking inquiry along with my ten colleagues. It must be recognised that this inquiry had two strands - public hearings and the publication of the report. Each was equally important. The inquiry was held in public. For the first time the public could see, in real time, all the stakeholders appearing before the committee to be...

Written Answers — Department of Social Protection: Invalidity Pension Data (19 Jan 2016)

Kieran O'Donnell: 107. To ask the Tánaiste and Minister for Social Protection the number of applicants in receipt of invalidity pension in Limerick city and county; and if she will make a statement on the matter. [1986/16]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: Hello. Goodbye.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: I welcome the estimate of the €2 billion profit. To play devil's advocate, how would NAMA respond to the argument that there was a write-off of over €40 billion of taxpayers' money in terms of the banks so that the profit of €2 billion is on the values NAMA took them over at? How does NAMA respond to that argument? Will the profit actually be €2 billion?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: I know that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: My time is limited and Mr. Daly is going over ground that has already been dealt with. I have listened to the debate.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: Mr. Daly will appreciate that we represent the ordinary man and woman who has put so much of their hard earned money into the banks. To follow on from that-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: Does Mr. Daly regard €2 billion as the minimum? What would he regard as the maximum?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: Following on from that, the Comptroller and Auditor General has spoken about putting a benchmark or rate of return in place in terms of NAMA. Has that been done?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: What is that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: What is the rate?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: The level of equity that banks require from developers or builders operating in the marketplace at present is very significant - it could be 30% or more. What level of equity will NAMA be looking for from various interested builders in terms of partnerships on these projects?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: Could NAMA give 100% funding?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: What percentage of NAMA's loanbook in terms of number and value of loans has been disposed of either by the selling on of loans or realising of loans by NAMA. What is remaining? Will Mr. McDonagh give us a general outline of the way NAMA sees this unfolding?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: What percentage is gone to date?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: Is that 70% of the value?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: Could Mr. McDonagh equate that to the number of loans? Would it be 70% of debtors?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: That is significant. What are Mr. McDonagh's thoughts on the remaining debtors? It is more or less the same, about 75%. The total loans taken over by NAMA were valued at about €74 billion.

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