Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

In the interests of goodwill and to help the Deputy's campaign for the leadership of his political party, I will read the note I have on it.

It has been agreed by the Eurogroup that retrospective recapitalisation of banks on a case by case basis can be considered once the direct bank recapitalisation instrument comes into force. However, there is a long way to go in the negotiations and each case will be considered on its merits. It would not be appropriate for me to prejudge the outcome at this early stage. There will be no discussion on this at either the Eurogroup or at the ECOFIN meetings.