Enda Kenny (Mayo, Fine Gael) | Oireachtas source

In any event, I put it to Deputy Martin that the general focus of these discussions has been about the range of options with regard to the promissory notes, the sources of funding, the duration of the notes, the interest rates applicable and all of that area. I have been clear in saying that we want to effectively restructure and re-engineer this situation to move from a high interest rate overdraft to a long-term, low-interest mortgage. It is within these parameters that we want to get the best possible deal for our taxpayers. The discussions have not concluded and I expect that we will have a conclusion by the next payment date, which is at the end of March.

I have no function and neither does the Government in calling European Central Bank meetings. It is a matter for the chairman and chief executive when they wish to call them. The Governor of the Central Bank attends those meetings.

What would the impact be? Clearly, it would make the debt sustainability more easy to deal with from an Irish perspective. It would strengthen the international view of Ireland making progress towards an exit from our programme. It is in these areas where we wish to get the best deal for the taxpayer here.

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