Results 21-40 of 46 for nama speaker:John Paul Phelan

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

John Paul Phelan: That is fair enough. At the time that the legislation was happening, this was the major element of support for the establishment of NAMA that was expressed in the Oireachtas by different people, not just the late Minister for Finance. I felt I just needed to put that question. Perhaps it has been a long day and you were a little bit brief in your answer.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

John Paul Phelan: We will not wrap them up yet Chairman. A couple of more questions in relation to Mr. Daly. The broader context of NAMA ... you obviously have a responsibility to obtain value for money for the taxpayer. There was also a social responsibility element which I can remember being discussed at length in both Houses at the time. I do not want you to obviously refer to specific...

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

John Paul Phelan: ...to, and he went off script I think even a little bit, to refer to the fact that there was no fire sale ... you mentioned Dr. Bacon specifically. There is evidence that exists of property sold by NAMA that were subsequently resold at significantly increased prices which would seem to contradict the evidence ... or the statement that you made with regard to the absence of a fire sale...

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

John Paul Phelan: I have a couple of questions about NAMA. Will Dr. Bacon give a brief outline to the committee about the events that preceded his report which I think was commissioned by the National Treasury Management Agency at the time? How did Dr. Bacon come to conduct that particular report?

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

John Paul Phelan: We might get an opportunity to ask that question as well later. At the time that Dr. Bacon was conducting that particular report prior to the establishment of NAMA, did he have any commitments to financial institutions or property companies?

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

John Paul Phelan: I want to put a quote to Dr. Bacon from the first page of his report prior to the establishment of NAMA: "As regards their property loan portfolios, the six guaranteed credit institutions face cumulative economic impairment on their land and development loan exposures and associated property investment loans of around €34 billion on loans outstanding of €80 billion to €90...

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

John Paul Phelan: In more recent times Dr. Bacon seems to have changed his opinion on NAMA. I think in 2012 he said that it was not reaching its potential and that maybe a different course of action should be taken

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

John Paul Phelan: This is my final question on NAMA. It was widely said in 2009 that it would provide banks with additional collateral that could be used to borrow from the ECB. Given that excessive borrowing from the ECB played a key role in triggering Ireland's bailout, what is Dr. Bacon's assessment of the 2009 solution, which related to liquidity problems as opposed to assessing the size of the solvency...

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

John Paul Phelan: On the National Asset Management Agency, in answer to a question from Deputy Eoghan Murphy, Dr. Bacon stated, perhaps jocosely, that he stopped having a serious interest in NAMA when he was no longer paid to have an interest in it. Several members, including me, have quoted media reports from 2010, 2011 and 2012 in which Dr. Bacon gave strong opinions and comments on the workings of NAMA....

Oireachtas (Ministerial and Parliamentary Offices) (Amendment) Bill 2013 [Seanad]: Second Stage (Resumed) (29 Jan 2014)

John Paul Phelan: ...places at the one time and expect to make a useful contribution. I fully agree with the sentiments of Deputy Mathews in respect of pulling back the curtains. He spoke of shedding light on all areas and mentioned NAMA in particular. I fully agree with him in this regard. There are other organisations, such as EirGrid, for example, which is topical at the moment. I will not mention...

Sale of State Assets: Statements (13 Oct 2011)

John Paul Phelan: ...the network from the business, which has exacerbated our difficulties with broadband. Perhaps Deputy Fleming will have another opportunity to explain what he means when he refers to selling NAMA and Anglo Irish Bank into private ownership. He also referred to selling our shares in the bank and using the money to create jobs. It will be used to repay the money borrowed by the previous...

Sale of State Assets: Statements (13 Oct 2011)

John Paul Phelan: ...convert the Fianna Fáil position from one of favouring the wholesale sale of State assets to being opposed to the sale of anything to do with the ESB, while at the same time stating we should put NAMA, Anglo Irish Bank and the banks back into private ownership, was mind blowing. A constituent contacted me to tell me perhaps we could sell Fianna Fáil into private ownership but I do not...

Seanad: Small and Medium Enterprises: Motion (20 Oct 2010)

John Paul Phelan: ...corner; - notes with concern that small business are still having difficulty accessing credit through financial institutions for a variety of reasons; - recognises that the Government strategy of NAMA and bank recapitalisation has not produced a "wall of cash" in credit for small business; - acknowledges broken Government promises to introduce a credit guarantee scheme for small and...

Seanad: Order of Business (6 Jul 2010)

John Paul Phelan: ...discussing the possibility of taking people from their communities and putting them back in to these institutions. I agree with Senator Ross in regard to the banking inquiry and the projections for NAMA. In regard to Senator Mooney's comments, I am surprised the Government was so naive as to take the word of these bankers, who are largely responsible for the difficulties in which we find...

Seanad: Finance Bill 2010 (Certified Money Bill): Second Stage. (24 Mar 2010)

John Paul Phelan: ...the future. Money is to an economy what blood is to a human being and it needs to circulate if jobs are to be created. This Bill and the previous measures introduced by the Government, including NAMA, have done very little to circulate money through the economy. Previous speakers, including Senator Coghlan, spoke about NAMA and I continue to have serious reservations about the...

Seanad: Order of Business. (23 Mar 2010)

John Paul Phelan: ...also to the avowed position of a former Green Party councillor on the national airwaves some months ago, at the time of the renewed programme for Government, who said his party would support NAMA and the renewed programme for Government if there was a deal on legislation for animal welfare. I would like a discussion as soon as possible. I am disturbed that we have had a number of debates...

Seanad: Dog Breeding Establishments Bill 2009: Committee Stage (Resumed) (9 Mar 2010)

John Paul Phelan: ..."Five Seven Live" or Matt Cooper's radio programme on the evening before the Green Party conference to discuss the renewed programme for Government that the party would vote for the programme and NAMA on the basis that animal rights legislation would be introduced. This Bill reflects that. I do not believe the Minister of State believes in his heart and soul the statement he read into the...

Seanad: Job Creation: Statements (3 Mar 2010)

John Paul Phelan: ...referred to the desirability of opening a new national recovery bank, which Fine Gael first proposed almost a year ago. I was surprised to hear the Taoiseach yesterday in the Lower House claim NAMA would ensure money would flow through the economy. We have been told by different Government spokespersons, especially the Minister for Finance, that this was not what NAMA was set up to do....

Seanad: Order of Business (3 Mar 2010)

John Paul Phelan: ...Leader would enlighten me on that when he responds to the Order of Business. When will we have our long sought debate on banking? Yesterday in the other House, the Taoiseach stated his belief that NAMA would free up credit to the economy. Numerous Government spokespersons, including in particular the Minister for Finance, have admitted that was never the intention for NAMA but the...

Seanad: Order of Business (24 Feb 2010)

John Paul Phelan: They should have voted for the Fine Gael proposal during the passage of the NAMA legislation.