Kieran O'Donnell (Limerick East, Fine Gael)

In respect of the €15 billion correction required over the next four years, what was the average rate of interest used in estimating Government borrowing? I am specifically interested in the figure for 2011.

The Minister spoke about the prohibitive level of our bond yields, which today reached a record high of 7.06%. Can he explain why they have reached such an alarming level? We appear to lack credibility in the markets. Will the interest that is accruing on our promissory notes be paid and can we persuade the EU to allow us to keep it off balance sheet?

The Minister and the Financial Regulator both stated it was mutually beneficial to all parties concerned that negotiations be held on the bonds of Anglo Irish Bank. Are such negotiations now underway between the bank and its senior bond holders?

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