Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

In the round, this issue deals with approximately half of the money that went into the banks, approximately €30 billion between the two pillar banks and Permanent TSB. What is the Government's objective with regard to the negotiations that are under way? Obviously, the ESM does not have any track record in holding shares in banks. A key issue in this regard will be the basis for valuation. The National Pensions Reserve Fund puts a figure of approximately €9 billion on our holdings in the banks. What does the Minister seek to achieve in this regard? Does he seek to get back as much as possible of the €30 billion invested in those banks? Is he of a mind to dispose of our stakes in those banks at the right price to the ESM, if the opportunity arises?

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