Michael Noonan (Limerick City, Fine Gael)

Deputy Boyd Barrett's question was addressed in part of the answer, which was too lengthy to read out in full. However, he will receive it in written form. In general terms, the names of bondholders are not known to institutions issuing bonds because there is an active secondary market on which bonds are constantly bought and sold. If AIB issues a bond, it may know who buys it in the first instance, but it has no idea of who is holding it once it starts moving around. Unlike the case of a shareholding in a company, there is no requirement in law to have a share book disclosing who the bondholders are. My answer is "No", but it is expanded upon somewhat in the written answer provided.

Regarding Deputy Lenihan's question, sovereign debt is sacrosanct. Any country would be foolish not to honour a guarantee given under the signature of the sovereign state. When we discuss burden sharing, we are not discussing that category of debt. It must be excluded. We must pay our way.

Deputy Doherty is pressing me to give him information in advance of the results being published. I am not in a position to do so. I must wait for the results of the stress tests to become available before the Government can adopt a policy position on the issues the Deputy raised.

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