Results 61-80 of 260 for nama speaker:Joan Burton

Death of Member: Expressions of Sympathy (15 Jun 2011)

Joan Burton: ...a great honour but also brought great responsibility. I differed with him and his predecessor on their approach to the famous tax breaks that fuelled the property bubble, the bank guarantee and NAMA. However, these were political and ideological differences and arguments about matters that were fundamental to the well being of the people. I am happy that despite these clashes, it never...

Departmental Offices (30 Mar 2011)

Joan Burton: I have taken a close interest in the works of NAMA and all its complex relationships with property developers, buildings and so on. I will ask the Department if any such arrangements are being made for the acquisition of premises, whether for purchase or lease, but I have not been advised of that. I will make inquiries and pass the information on to the Deputy. As the Deputy knows,...

Order of Business (13 Jan 2011)

Joan Burton: There are two matters I want to ask about. The first is the NAMA amendment Bill, which is to be prioritised by the Government. This important Bill would allow for debts of developer loans under €20 million to be transferred to NAMA. Given that billions of euro of taxpayers' money is involved in this Bill, is it the intention of the Government to publish any kind of White Paper or Green...

Bank Guarantee Scheme (12 Jan 2011)

Joan Burton: ...before the budget on Anglo Irish Bank exposure to interest rate and foreign exchange transactions. The reason it became necessary, which may have been recommended to the Minister by the board of NAMA, was that Anglo Irish Bank went down to junk bond status and many of the derivative positions essentially became closed. Based on what the Minister knows about the operations of Anglo Irish...

Credit Institutions (Stabilisation) Bill 2010: Committee Stage (15 Dec 2010)

Joan Burton: ...with 77 sections and two Schedules, one of which is in five parts. Each part sets out substantive amendments to other pieces of legislation, such as the National Pensions Reserve Fund Act and the NAMA Act. In addition, the Bill before us sets out changes to powers concerning the relationship between the Minister for Finance and the Governor of the Central Bank. We are supposed to deal...

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Committee and Remaining Stages (10 Dec 2010)

Joan Burton: ...tax lawyer is able to do as much. I do not believe the Irish courts would be bound by a decision of the United Kingdom courts in which I understand a related legal case was taken. In regard to NAMA and other court actions that have been taken, as far as I can make out our judges have been very conscious of the financial emergency the State faces. The Minister of State made a pathetic...

Budget Statement 2011 (7 Dec 2010)

Joan Burton: ...certainly losers. Other losers are the small and medium businesses, in respect of which the budget does not mention the flow of credit. We were promised credit would flow like milk and honey once NAMA got under way. Instead, NAMA seems to involve a reverse proposition sucking life out of the economy because its operations are so large. NAMA is probably the biggest property company in...

Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)

Joan Burton: We do not have to draw down all of the funding but the worst thing in the world would be to negotiate an inadequate contingency. Then, as with the failed bank guarantee and the failed NAMA, we would have to creep back and look for more. At that point we really would be in a place from which it would be difficult to see a hopeful return.

Banks Recapitalisation (10 Nov 2010)

Joan Burton: ...if the rates fall back a bit, are still likely to be over 6%. Strategically, is this the best approach for Ireland? The Government was able to issue bond notes at 1.5% in respect of the banks and NAMA and there are provisions for a zero coupon rate on promissory notes. I am sure the Minister's officials have advised him of the effect of that. Has he considered the issue? It will mean...

Macro-Economic and Fiscal Outlook: Statements (27 Oct 2010)

Joan Burton: ...pay a fair share. It is astonishing to consider how the rampant organised tax avoidance to which I refer remains so embedded in our culture. One need only consider the recent stories relating to NAMA. All of the guys - and they are guys - whose loans were taken over by NAMA are each going to be given €200,000 per year in order that they might continue to live in the style to which they...

Written Answers — National Asset Management Agency: National Asset Management Agency (12 Oct 2010)

Joan Burton: Question 227: To ask the Minister for Finance if loans scheduled for transfer to National Asset Management Agency (NAMA) are to be limited to those where the borrower owes in excess of €20 million, an increase on the original €5 million limit; the nominal value of loans scheduled for transfer to NAMA and the total value of the senior and subordinated NAMA bonds he expects to issue in...

Written Answers — National Asset Management Agency: National Asset Management Agency (12 Oct 2010)

Joan Burton: Question 228: To ask the Minister for Finance the breakdown of the non-NAMA loan book of the soon-to-be-nationalised Allied Irish Banks by geography, by sector, by loan type (details supplied); the extent to which each of these segments of the bank's loan book are already subject to write-downs; the extent these loan books are in arrears; and if he will make a statement on the matter. ...

Announcement by Minister for Finance on Banking of 30 September 2010: Statements (30 Sep 2010)

Joan Burton: ...retire Fianna Fáil from government. It is long past its retirement time. What does the Minister have to say about the impact of this statement on ordinary people? The Minister was wrong to put NAMA into the NTMA and to compromise the reputation of the one agency-----

Announcement by Minister for Finance on Banking of 30 September 2010: Statements (30 Sep 2010)

Joan Burton: ----- that reasonably effectively sold bonds successfully for Ireland. The Minister compromised the NTMA by placing NAMA in it. Even at this point the Minister could reverse that decision before Ireland reopens the auctions to the bond markets. Why was NAMA not put into, for example, the Central Bank? The Minister decided to put it into the NTMA so that the principal people in the NTMA...

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Joan Burton: ..., a bill that has already put us the hook for €24 billion and God knows how much more when the full truth is revealed, perhaps as early as tomorrow. To add to our woes this Government added NAMA to the mix, one extra error of judgement added to the long catalogue of previous errors. There have been eyebrows raised at the discounts imposed by NAMA. Why could anyone be surprised that a...

Multi-Unit Developments Bill 2009 [Seanad]: Second Stage (Resumed) (8 Jul 2010)

Joan Burton: ...knock-on effect is that residents face being locked into the developments, unable to sell their properties if and when the property market ever revives. In addition - this may be something in which NAMA will become involved - there are unsold apartments or houses in many developments which the developer has held on to with the aim of selling himself. However, this means that the developer...

Banking Sector Crisis: Motions (8 Jul 2010)

Joan Burton: The most extraordinary aspect of the revised NAMA business plan is the board's admission of a deterioration in its original estimates with losses of €5 billion now predicted. The House has got so used to talking in billions that the value of money has lost its meaning. The outcome, however, of these decisions has left people with an extraordinary debt overhang. While I never contested...

Order of Business (8 Jul 2010)

Joan Burton: ...getting out to businesses in the country that are hanging on by their fingernails and letting employees go. This inquiry will take into account the actions of banks that have, clearly, lied to NAMA. The Government accepted those lies uncritically and told us the Irish banks were fine because stress testing showed they were fine. It is proposed that we deal with this matter in one hour...

Economic Issues: Motion (6 Jul 2010)

Joan Burton: I thank the Leas-Cheann Comhairle. This afternoon saw the formal publication in the Dáil of the revised NAMA business plan. In the context of this Fine Gael motion on the economy, the NAMA business plan is appalling news for taxpayers. It shows that, in the nine months since the draft business plan was published, the people in NAMA have revised their estimate of it making a profit of...

Order of Business (6 Jul 2010)

Joan Burton: ...and the metro. Can the Taoiseach confirm whether the Government is producing a revised national development programme? If so, when is it likely to be published? During the consideration of the NAMA legislation, when the Minister for Finance very graciously accepted a number of Labour Party amendments, we were promised that when the revised NAMA business plan was available - it was...