Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

In early 2014, when the ECB initially sought my views in the context of its discussion on the possible release of the letter, I indicated that the decision to release the letter was a matter for the ECB. However, it is important for relationships between institutions to be developed and sustained to allow confidential negotiations to take place especially on sensitive issues.

Requests to release the letter have been considered under our own freedom of information legislation on a number of occasions. The decision has been to refuse these requests in line with relevant sections of the FOI Acts and the refusal to release has been upheld on one occasion by the Office of the Information Commissioner.

Separately, the European ombudsman investigated the refusal by the ECB to release the letter under the ECB's freedom of information processes. I understand the ombudsman's office found that the ECB was entitled not to disclose the letter. I understand that when the European ombudsman suggested a "friendly solution" and invited the ECB to disclose the letter, the Governing Council of the ECB came to the view that it was appropriate that the letter would not be disclosed at this time but indicated that it will revaluate disclosure of the letter at a more advanced stage of post-programme surveillance.

As regards the release of the letter to the banking inquiry, any request which may be received from the inquiry will be considered, taking into account the terms of reference of the inquiry. It would be standard practice and, in line with the principle of co-operation among public institutions, for the ECB to be consulted before a decision is made on its release.

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