Michael Noonan (Limerick City, Fine Gael)

I thank the Deputy for his good wishes. I am quite constrained in what I can say but I would like to keep the House informed. At the conclusion of these talks I will come back to the House and give the Deputy all the details to which he is entitled as a finance spokesperson of an Opposition party.

I can confirm that the principal agenda item is to negotiate an overall settlement to have an alternative to the promissory note, which would be less onerous on the Irish taxpayer, and that work is proceeding. What commenced as an Irish request is now being converted into a euro-IMF position paper but of course the decision will be political. As I said in my script, when we get the common agreed paper, we will have to move on and get political support behind it and we will have a more structured approach, through diplomatic channels, to getting that political support.

While what is happening at the end of the month is important, it is not the main game. The terms of it will not necessarily influence the design of what we are aiming for. In other words, it is not a template, as the Deputy remarked. Beyond that, I cannot help the Deputy.

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