Enda Kenny (Mayo, Fine Gael) | Oireachtas source

The debate on the promissory notes takes place later today. The removal of the notes which will be exchanged for long-term Government bonds has an average maturity of 34 or 35 years instead of the seven to eight years' average maturity on what was there. The reduction in the State's general deficit of approximately €1 billion which is 0.6% of GDP per annum will bring us €1 billion closer to getting down to the 3% by 2015. The requirement now is for €20 billion less of borrowing over the next decade which is important.

I agree with Deputy Halligan that it would be lovely to have good news every day. I can certainly confirm for the Deputy that in respect of the difficulties the south east has faced for quite some time, potential investors have laid significant emphasis on the area. Some like the place, some do not. The Deputy says that three weeks or three months is too long to wait. If he waits an hour and a half he might hear an interesting announcement about that part of the world.

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