Dáil Éireann Debate, Thursday - 21 February 2013
80. Deputy Michael McGrath asked the Minister for Finance in the context of the deal on the promissory notes reached with the European Central Bank, if the ECB can instruct the Central Bank of Ireland to dispose of the Government bonds at an accelerated pace; and if he will make a statement on the matter. [9480/13]
View answerThe Government bonds now held by the Central Bank following the liquidation of IBRC will be placed in the trading portfolio of the Central Bank, and these bonds will be sold as soon as possible, provided conditions of financial stability permit. The Central Bank has undertaken that minimum of bonds will be sold in accordance with the following schedule: €0.5bn by the end of 2014, €0.5bn per annum from 2015 to 2018, €1bn per annum from 2019 to 2023 and €2bn per annum from 2024 onwards.
