Oireachtas Joint and Select Committees
Thursday, 10 September 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Michael Noonan (Limerick City, Fine Gael) | Oireachtas source
Well, once I finish it. And then we got permission to refinance the IMF loans. I always said the IMF loans were worth €1.5 billion to us but the Commission's assessment of that was €2.1 billion, and the way it's working out now, it's ... they're nearer to being right than we were. We're always very conservative in the claims we make, you know. So that was the next piece of it. And then I have a general instruction after conversations with NTMA to refinance anything, any instrument they're holding; if they can refinance it at a lower cost, to do it. So they're doing bits and bobs on it.
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