Shane Ross (Dublin South, Independent)

I refer to two announcements made yesterday, one of significance and to which Deputy Adams has referred, the confirmation by the Governor of the Central Bank, Patrick Honohan, that the deal was done or virtually done. The second announcement was made by the Tánaiste in the House that a referendum would be held on 31 May. An observer could be forgiven for noting that the timing was not possibly coincidental. I congratulate the Government if it has achieved a substantial progress on the Anglo Irish Bank promissory notes. Any concession is a good concession. However, I am worried by what the Governor is reported as saying yesterday. It was news to me that this is official policy when he said that the Anglo Irish promissory notes were a source of risk to the financial stability of the State. If this is the case - and if it is sealed within the next 24 or 48 hours - it is a deal on a very small part of the Anglo Irish promissory notes, in that instance a total of €3.1 billion. The Government is briefing that this is part of a staging post of ongoing negotiations and we will get further concessions on the debt. Will the financial stability of the State still be at risk from these notes next week?

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