Pearse Doherty (Donegal South West, Sinn Fein)
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I have two brief questions for the Minister. The last ECOFIN meeting agreed an extension of the maturities relating to the EFSM and the EFSF. There will be additional surveillance of Ireland until 75% of these loans are repaid. The draft regulation states that the Commission shall conduct, in liaison with the ECB, regular review missions in the member state under post-programme surveillance to access its economic, fiscal and financial situation. I ask the Minister to translate what this will mean. The extension of maturities means it will take longer before Ireland reaches that 75%. What does this mean in practice?

RTE reported today that a European official said there would be a principal statement about whether direct recapitalisation of Irish banks would be permitted at the June meeting. Can the Minister clarify the situation one year on from the principal statement agreed last June?