O'Donnell, Kieran

Thursday, 5 November 2009

Dáil Eireann Debate
Vol. 693 No. 3

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I want to raise a point of order. The Government will guillotine this debate tonight. I am making a plea to the Minister not to do so.More Button

The key amendments concerning the windfall tax, the surcharge, the bank levy and the guidelines will not be reached.More Button

We will never get to them. That is not what this House is about.More Button

Will the Minister go to the Chief Whip to get more time to allow us to debate this legislation at length?More Button

Why is the Minister guillotining the Bill? This is against democracy. The key amendments have been put to the very end of the list so they will not be debated.More Button

In the interests of democracy.More Button

The Minister knows that. There should be a proper debate.More Button

It is too important. Why is the Minister guillotining this debate?More Button

It would be very much in the social and economic interests of the State that we had a proper debate on this legislation. Regarding the amendment, when one defines the economic and social development ...More Button

I have addressed the amendment in terms of the social aspect.More Button

In many cases in the past they were not in place.More Button

I move amendment No. 9: In page 17, between lines 17 and 18, to insert the following: “(viii) to ensure that the measures taken in this Act restore confidence in the banking sector are reciprocated by...More Button

I have a major issue with that. On the key issues the Minister is to bring forward guidelines on getting credit flowing but I must express my severe disappointment that he saw fit not to allow extra t...More Button

No.More Button

If the Minister wished, he could voice the view that he felt extra time should be given to the Bill and no doubt the Government would acquiesce to that request from him. The other issue concerns the t...More Button

The Minister did not.More Button

We are discussing the amendment. If the Minister reads the amendment,——More Button

——he will see that the purpose of the Act is restoring credit, orderly property management strategy,——More Button

——to recover the maximum funds, to take all necessary steps to prevent a recurrence of the conditions that brought about the financial crisis. The Minister can be glib and state we should not discuss...More Button

The surcharge is a new amendment, creating a new section. It was not tabled on Committee Stage and we will never get the opportunity to discuss it.More Button

It is critical that we get time to debate the issue of the credit flow. The Minister has tabled amendment No. 78 and the worry is we may not get the opportunity to discuss it. It is critical in term...More Button

I thank the Minister for facilitating this discussion on a key element of the NAMA project, which may help to get credit to flow to small businesses. Fine Gael has tabled amendments Nos. 29, 32 and 7...More Button

If only it was €28 million.More Button

What about the Irish assets?More Button

Why was Anglo Irish Bank nationalised then?More Button

I have no criticism of Mazars.More Button

It was curtailed by the information available from the banks.More Button

On the target report, unless the banks give a breakdown between new and existing business, the report will fail again. Effectively, apart from the fact that it did not give any proper indication of r...More Button

I would like to make one or two critical points and get some clarification. Is the Minister using amendment No. 127 as a means of threatening the banks? Rather than issuing guidelines, is he threate...More Button

It is likely that €47 billion will be paid by way of market value and the rest will be put into the banks. If we owned 51% or more of the banks, we would control their loan books and lending policies...More Button

I remind the Minister——More Button

The Minister is hedging his bets.More Button

When will we see them?More Button

Nobody disagrees with that.More Button

The Minister expects to produce a code in the next six weeks.More Button

The Minister is not issuing guidelines.More Button

With respect, the questions I asked were valid.More Button

They were valid questions.More Button

We are entitled to a response.More Button

The Minister is not issuing guidelines.More Button

Amendment put.
Yes IndicatorVoted Yes More Button

Go on Deputy Ring.More Button

I welcome the fact that there will be quarterly reports. I would suggest that three months is too long a period to wait for a set of accounts that do not appear to be audited. These are accounts whi...More Button

We are discussing amendment No. 59 in the context of this group of amendments.More Button

No, I mentioned quarterly reports.More Button

By way of clarification, that they are not audited accounts is all the more reason they should be able to be provided to the Minister within a far shorter period than three months. In fact, in the bu...More Button

It is historical by that stage.More Button

It is exactly like NAMA.More Button

It is a case of Animal Farm in terms of the Green Party.More Button

I will speak to amendment No. 16. Fine Gael’s amendment No. 83 is related. The Minister said he has heard no new arguments in regard to long term economic value. Before he left the House approximat...More Button

There are, therefore, questions the Minister needs to answer and has not answered. Deputy Gogarty misinterpreted the difference between NAMA buying the assets, which is not recapitalisation——More Button

It does nothing in terms of adding to the core tier 1 ratio. A businessman looking at this would purchase the assets at market value. In that context, NAMA would have some chance of making a return....More Button

There would be an upside for the taxpayer if the banks’ balance sheets were cleaned up. Ordinary shares would be valuable and the Minister would have some influence over lending. The Minister gave n...More Button

The Minister said he “may” issue them.More Button

When will they be issued and laid before the House? We need to see the guidelines.More Button

The problem with NAMA, in terms of market value, is that it is paying €7 billion over market value. The taxpayer is taking the majority of risk in terms of market value and the €7 billion. The banks...More Button

Has Deputy Mulcahy read the business plan?More Button

It is good to hear Deputy Kennedy. We have not heard him in this debate for a while. More Button

Deputy Kennedy might explain the special purpose vehicle for us while he is here. More Button

They do not. More Button

The Deputy might speak to the amendment now. More Button

Extend the time for the debate.More Button

We can do it again.More Button

We do.More Button

Question: “That the amendments set down by the Minister for Finance and not disposed of, with the exception of amendment No. 42, including those in respect of which recommital would in the normal cour...
No IndicatorVoted No More Button

Last Updated: 15/12/2010 21:22:34 First Page Previous Page Page of 191 Next Page Last Page