Brian Lenihan Jnr (Dublin West, Fianna Fail)

The Government is under no pressure from external influences in that regard. Bondholder instruments are traded on markets so there is no register of the current holders. It cannot be established with reliability at my Department who is the current holder. Deputy Ó Caoláin provided a list of names and I recognise some of the names as institutions that subscribe to Irish State debt. Some of the entities to which Deputy Ó Caoláin refers assist in the payment of our salaries in the House, which in part must be funded by borrowed moneys. Bonds are traded on markets, sometimes at a discount, sometimes at par and sometimes in excess of par. However, they are not instruments in respect of which there is an international register through which I, my Department or the Government of another state can reliably authenticate the current holders.

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