Wednesday, 27 February 2013

Questions (71, 73, 83)

Micheál Martin

Question:

71. Deputy Micheál Martin asked the Minister for Finance if he proposes to discuss the promissory note at the next EU Council meeting; and if he will make a statement on the matter. [2300/13]

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Micheál Martin

Question:

73. Deputy Micheál Martin asked the Minister for Finance if he has discussed the promissory note with any of the EU leaders since Ireland took over the EU Presidency; and if he will make a statement on the matter. [2316/13]

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Micheál Martin

Question:

83. Deputy Micheál Martin asked the Minister for Finance if he has discussed the issue of the promissory note at any of his recent bilaterals with EU leaders; and if he will make a statement on the matter. [5092/13]

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Written answers (Question to Finance)

I propose to take Questions Nos. 71, 73 and 83 together.

The negotiations surrounding the promissory note have been conducted over several months. I took the opportunity to raise the matter with my EU colleagues whenever the opportunity was afforded me. I impressed on colleagues the importance of putting in place long-term stable funding as a means of greatly enhancing our debt sustainability. As the Deputy will be aware, the outcome was very successful from an Irish point of view.

I do not intend raising this matter at the next meeting of ECOFIN as we have reached a very satisfactory solution.