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Dáil Éireann díospóireacht -
Thursday, 13 Dec 1984

Vol. 354 No. 12

Written Answers. - Semi-State Bodies Finances.

145.

asked the Minister for Finance if he is aware that, following the liquidation of Irish Shipping Limited and his speech at a bankers' function on 16 November 1984, a number of semi-State bodies have been called in by their bankers regarding the financial accommodation which had hitherto been made available to them; that this situation is causing deep anxiety and uncertainty amongst the employees of semi-State bodies generally; and if he will make a full statement on the matter.

I would not agree that the position is as described in the Deputy's question. It is normal practice for banks to keep their loans to clients, including corporate clients such as State bodies, under continuous review. Approximately 90 per cent of the outstanding bank debt of State bodies is guaranteed by the State and the banks involved would, therefore, have no cause for concern. Equally, the employees of State bodies need have no cause for particular concern on this issue.

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