Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

We spoke about the promissory note and a bullet payment at the end. That would have major advantages for this country in terms of funding. One of the key elements from a budgetary position in terms of promissory notes is interest. I accept that budgetary matters are not part of Mr. Corrigan’s remit, but is it possible to construct a product, in refinancing the promissory notes, to the effect that we would have not only a capital repayment holiday but also an interest bullet that would enable the State not to have to record interest on the funding arrangement until the very end of repayments? If it is a 20-year or 30-year bond, then effectively the full amount would be repaid at the very end but the interest amount would not reach the accounts until the end as well.