Joan Burton (Dublin West, Labour)

I will repeat the question I asked earlier, which the Minister did not have an opportunity to answer. Is the Minister still committed to issuing further promissory notes to the tune of approximately €9 billion at the interest rates which now prevail, which today are 8% and which, even if the rates fall back a bit, are still likely to be over 6%. Strategically, is this the best approach for Ireland? The Government was able to issue bond notes at 1.5% in respect of the banks and NAMA and there are provisions for a zero coupon rate on promissory notes. I am sure the Minister's officials have advised him of the effect of that. Has he considered the issue? It will mean an additional interest charge of approximately €700 million per year on the €9 billion at current rates. That is not to be sneezed at.

What is the position in regard to the former Anglo Irish Bank employees who will not share the encryption codes for accessing its records? Does the Minister propose to take action and has he entered into discussions with the bank's management?

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