Dáil Éireann Debate, Wednesday - 18 April 2012
121 Deputy Niall Collins asked the Minister for Finance if he will publish the instructions received from the troika in which the sale of €5 billion in State assets was expected; and if he will make a statement on the matter. [12921/12]
View answerAs the Deputy is aware, following a series of discussions with the EU Commission/ECB/IMF (The Troika) on the matter, the Government achieved a significant breakthrough on how the proceeds of asset disposals are to be used. In return for committing to an asset disposal programme of up to €3bn, which is a more ambitious target than we had originally provided for in the Programme for Government, the Troika has agreed to the retention of one-third of the proceeds for reinvestment in the economy. My colleague the Minister for Public, Expenditure and Reform, Brendan Howlin T.D., announced details of the disposal programme in February and work is now progressing on its implementation. The programme documents which were laid before the Houses of the Oireachtas on 14th February set out the commitments in this regard.
