Seán Fleming (Laois-Offaly, Fianna Fail)

I am not a bit confused because this is black and white. The Government claims the State cannot realise the value of its shares but it is doing the opposite. I am glad the Government got €1.123 billion and reduced the State share-holding in Bank of Ireland.

There was nothing in the emorandum of understanding we signed last December about using the proceeds of State assets. The memorandum of understanding the Government renegotiated in April said, "It is important that we make effective use of State assets and, where appropriate, dispose of them to help reduce our Government debt". That is the decision the Government made in March of this year. The money from the sale of State assets will go into the pension reserve fund not into the banks. Can the Government not ask the troika if, when it does dispose of State assets, the money can be used to stimulate economic growth?

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