Joan Burton (Dublin West, Labour)

Does the Minister agree it is the interest relating to the promissory notes which has completely distorted the position and which is largely responsible for the increase in the savings - from €7.5 billion to €15 billion - that will be required in the next four years? Who provided the Minister with advice on the promissory note system prior to Easter? Why did he come before the House on the Tuesday prior to Easter without first fully checking the position with regard not only to the capital implications but also to those relating to interest payments? Was someone in the Department responsible for making suggestions in respect of this matter? Senior civil servants in the Department of Finance and senior officials employed by the Central Bank, the Financial Regulator and the various other institutions which are responsible to the Department are meant to provide advice to the Minister. Did they not provide that advice?

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