Joe Higgins
Question:44 Deputy Joe Higgins asked the Minister for Finance if he had discussions on the margins of the EU summit on 30 January about the promissory notes relating to Anglo Irish Bank. [5173/12]
View answerWednesday, 22 February 2012
Questions (44)
Written answers
As the Deputy is aware I have indicated I am committed to reviewing the approach to the Promissory notes with a view to reducing the overall cost to the State of correcting the banking system. The Troika have agreed to engage in a process with Irish Officials to produce a common paper which will consider options for re-engineering the notes in terms of the maturity of the notes, the interest rate, the cash flows etc. In tandem with this technical review the Government has commenced a campaign at political level to garner support for an approach which is more beneficial to the Irish State. I have met with Commissioner Rehn and Mario Draghi President of the European Central bank as well as a number of my counterparts from Member States to progress the matter. However, I did not attend the EU summit on 30 January. Additional detail on such proposals will be available when the on-going work is further advanced.