In 2009 we increased the cash in Quinn Direct as we had in 2008. We increased the cash in it in 2010. The outstanding claims were €20m in March 2010 but Quinn Direct had more business in the U.K. than in Ireland.
Sentiment: NEGATIVE
The vast majority of debt that Anglo maintains is owed is strenuously disputed. However, I cannot now pay those loans which are due, following Anglo taking control of the Quinn Group of companies, which I and a loyal team spent a lifetime building.
Foreign investors like decisiveness; they like clarity. There isn't any confusion about Ireland's corporate tax rate: it is 12.5%. End of story.
If you've taken Econ 101, you know that the quantity of money rises only when the banking system makes a net loan.
And $18 million in three Japanese banks, completely false. That I have two factories in Panama, also completely false. This is part of the counter campaign of some people.
Back when Detroit was the head of auto manufacturing, it was clear where profits were created. Right? A car was made in Detroit. There was little argument that you could make that some of the money from that should be sent overseas to Ireland.
To the extent that people overpay as a result of the Libor manipulation, they should be able to get their money back. Individuals who have mortgages, pension funds who had pensioner investments - whoever was ripped off is entitled to get their money back.
In Ireland here, the Revenue Commission have always been completely independent of the state since 1923, and they are quite adamant and quite clear that there was no preferential treatment and no special deals, no sweetheart deals, and that Apple paid the taxes that were due on their profits generated here in this country.
Rather than going through a commercial banking training program, at the first bank I ever worked in, I was the chairman. And it was my own money, so we loaned it out like it was my own money.
This is our 40th year in business. We don't have a single penny from outside investors, and we never borrowed heavily from the banks. We have a healthy balance sheet and more credit than we can use.
The Hungarian interest is that, if necessary, we should make loan agreements with the IMF on a regular basis.