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Dáil
‹ Order of Business

Financial-sector legislation and mortgage distress

Summary

Peter Mathews argues that the Government failed to secure a satisfactory resolution of the financial crisis and calls for legislation to help distressed mortgage holders. The Taoiseach defends the Government’s negotiations and public-finance management, while the exchange is repeatedly curtailed by the Ceann Comhairle as outside normal Order of Business procedure.

To follow up on what Deputy Troy mentioned-----

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Seán Barrett An Ceann Comhairle Fine Gael

We do not have follow-ups on the Order of Business.

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It is in connection with legislation.

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It could be related.

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The Ceann Comhairle is so quick, it is incredible.

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Seán Barrett An Ceann Comhairle Fine Gael

I have to keep order. What is the legislation?

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He is razor sharp, in fairness to him.

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He is like a fast bowler in cricket.

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Seán Barrett An Ceann Comhairle Fine Gael

To what legislation is the Deputy referring? We normally do not have follow-up comments.

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We had the helpful input of Professor Ashoka Mody as director of the IMF team, or as part of the troika.

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Bernard Durkan Deputy Bernard J. Durkan Fine Gael

He is a recent convert.

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He said recently and also two years ago — I gave the Taoiseach the information as a first snippet out of the newspapers, as he will remember-----

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Enda Kenny The Taoiseach Fine Gael

Very well. I have it on my wall.

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He said we fell very far short and very limp in our representation on behalf of the people-----

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It is nearly dinner time.

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-----in negotiations for a resolution to the financing problem of this country.

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Seán Barrett An Ceann Comhairle Fine Gael

Where are we going with this?

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It is not good enough.

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Seán Barrett An Ceann Comhairle Fine Gael

What legislation is the Deputy talking about?

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Some new legislation that could help with this, and help the 40,000-----

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We have a few minutes left.

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Seán Barrett An Ceann Comhairle Fine Gael

No, we do not.

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I can explain.

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Seán Barrett An Ceann Comhairle Fine Gael

This is on the Order of Business.

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Seán Barrett An Ceann Comhairle Fine Gael

We have to stick to the normal rules.

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Seán Barrett An Ceann Comhairle Fine Gael

If the Deputy wants me to read them to him, I will.

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On promised legislation.

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Seán Barrett An Ceann Comhairle Fine Gael

What promised legislation?

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In the programme for Government, the Government promised that it was going to sort out the financial sector.

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The Deputy voted for it.

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This is related to that.

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Enda Kenny The Taoiseach Fine Gael

As Deputy Mathews is well aware, the Government has saved the taxpayer, by negotiation and constructive engagement, a sum in the order of €50 billion.

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The Taoiseach should not mention that figure of €50 billion. He has fallen short by €50 billion.

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Enda Kenny The Taoiseach Fine Gael

Public finances are coming very much under control, and the Minister for Finance has a slow and steady hand on that tiller.

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For whose benefit?

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Enda Kenny The Taoiseach Fine Gael

It is taking shape very strongly, and even the Deputy recognised that. He told me so himself.

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For whose benefit? Not for the benefit of the people. Some 40,000 mortgages are in deep distress. That is 140,000-----

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Seán Barrett An Ceann Comhairle Fine Gael

There are other ways of raising this, such as a Topical Issue matter.

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Deputy Mathews said he was not great at maths.

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If statistics are correct, some are certain to take their own lives.

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Deputy Mathews said he was not great at maths.

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