Damien English (Meath West, Fine Gael)

The Minister mentioned he would favour the idea of a State recovery bank. We on this side of the House believe the pension reserve fund could be used in that respect. Has the Minister considered this option? If he answers at a later time, I will not mind.

The Minister also mentioned rolled up interest, an issue I raised with him previously. During the debate on NAMA, there was more than €9 billion in rolled up interest. How stands the interest on those loans? Will the rolled up interest continue, irrespective of whether NAMA owns the debt? Perhaps the Minister could revert to me at a later date.

The Minister explained the reason for the haircuts as being security. The night he announced NAMA, I discussed security with him in the Chamber.

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