Brian Lenihan Jnr (Dublin West, Fianna Fail)

The formal obligation however is in the first three months. The agreement is expressed as the first quarter of 2011. Clearly the budget in practical terms is the first instalment of the four year plan which has been endorsed in this programme. The budget is the decisive signal on the implementation of this whole programme.

On bondholders, first, having clarified Deputy Burton's inaccurate references to the fact that this programme contains no reductions for bondholders, which it does, and that the junior bondholders are subject to burden sharing in the agreement, she then asked the question about-----

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