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Leaders' Questions (14 Dec 2010)

Brian Cowen: I assure Deputy Gilmore that efforts were made in this matter in November 2010, after a final judgment was granted or entered in the case he mentioned. Earlier this month, after the recapitalisation of the banks had been agreed in the agreements with the IMF and the EU, the Minister was able to find a means, through the letter he provided, of making it clear to the bank directors that they...

Leaders' Questions (14 Dec 2010)

Brian Cowen: The Deputy is not correct in his assertions. This was a pre-2008 event, as he knows, and took place before the crisis. It was an existing-----

Leaders' Questions (14 Dec 2010)

Brian Cowen: That is right, when the payments were being made. The issue had been deferred from 2008 into 2009 and was continuing to be deferred because obviously there was some debate as to whether the payment could be avoided. However, the legal advice was to the effect that it had to be paid, and there were some 1,460 employees who had chalked up aggregate bonus awards to the tune of around €35.5...

Leaders' Questions (14 Dec 2010)

Brian Cowen: The purpose of the motion being tabled tomorrow is to ensure there is full certainty regarding the views of this House, as expressed last week by a majority in its support for the first instalment of this four-year recovery plan through the passing of the budget. The purpose is to demonstrate that there is no uncertainty about the fact that this House, representative of the Irish people, is...

Leaders' Questions (14 Dec 2010)

Brian Cowen: What I cannot reconcile in terms of their logic are the two propositions I have just heard from Deputy Ó Caoláin. The first proposition is that we ignore sovereign debt markets from whom we have obtained the money and to default on the debt.

Leaders' Questions (14 Dec 2010)

Brian Cowen: The second proposition was that I should not ignore EU Commission forecasts on growth, employment and other economic indices and should reject my own.

Leaders' Questions (14 Dec 2010)

Brian Cowen: The first series of questions were a call to Irish sovereignty and the second series were that the Government should ignore our own opinions and take on board someone else's. The illogicality of what the Deputy says is self-evident.

Leaders' Questions (14 Dec 2010)

Brian Cowen: The Deputy has been helpful in terms of allowing me to glean Sinn Féin's policy position, which is to suggest that our sovereign debt is not a sovereign debt, that we default on that sovereign debt, which is probably the party's new definition of not recognising the sovereigns.

Leaders' Questions (14 Dec 2010)

Brian Cowen: The third proposition is that we then go to those markets from whom we have obtained those funds for more funds at a higher rate, all of which are illogical and impossible. The Deputy's view - he can check the official record - is that we do not acknowledge the debts we have, do not pay them back and get more money at higher interest rates, if necessary.

Leaders' Questions (14 Dec 2010)

Brian Cowen: That is what the record will say.

Leaders' Questions (14 Dec 2010)

Brian Cowen: The Deputy had better check with the politburo before he comes in tomorrow.

Leaders' Questions (14 Dec 2010)

Brian Cowen: Is Deputy Doherty the leader of Sinn Féin?

National Recovery Plan (14 Dec 2010)

Brian Cowen: That was not his position. He was speaking generally about the roles of programmes for Government over the past 15 to 20 years.

National Recovery Plan (14 Dec 2010)

Brian Cowen: No. If the Deputy would like my answer, I can give him an answer.

National Recovery Plan (14 Dec 2010)

Brian Cowen: I am not. If the Deputy wants me to answer the question-----

National Recovery Plan (14 Dec 2010)

Brian Cowen: We are not in a kangaroo court where a preconceived decision is made.

National Recovery Plan (14 Dec 2010)

Brian Cowen: So would I. I would love to see the Deputy trying to bring me into one. All programmes for government are subject to the budgetary circumstances. I refer him to every one of them, including the rainbow coalition programme and the Fianna Fáil-Labour Party programme. All commitments in every programme are subject to overall budgetary requirements because, otherwise, there is no reality to...

National Recovery Plan (14 Dec 2010)

Brian Cowen: The Deputy, therefore, is saying he would not take this amount out. If he will not take it out one way, what way will he take this out? Is it going to be tax?

National Recovery Plan (14 Dec 2010)

Brian Cowen: I am trying to figure out the Deputy's position.

National Recovery Plan (14 Dec 2010)

Brian Cowen: It still does not make sense to me. That is why I am asking questions.

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