Simon Harris (Wicklow, Fine Gael) | Oireachtas source

I did not interrupt the Deputy and I listened to him for 20 minutes. I would like him to do the same.

The budget will be announced in the House in two weeks and the agreement should be seen in that context.

I also refer to a point raised by Deputy Creighton on the issue of the IMF early repayment and her viewpoint on the sale of bonds. These are very separate issues and this was acknowledged by ECB President Draghi when he clarified that the ECB's agreement is not required to secure the waivers on this early repayment that the Minister, Deputy Noonan, in his latest round of successful diplomatic negotiation managed to achieve from his European colleagues.

On the overall issue of retrospective recapitalisation, it is important to note that thanks to the hard work of Government and the hard work and sacrifice of the Irish people this country finds itself in a very different position to the one in which we found ourselves in 2012, when people have referenced the deal that was struck and the accord announced at that time. We now have a situation whereby our economy is recovering and growing, the bank shares of AIB and the bank value of AIB is increasing and our unemployment levels are falling. It is in that context that the Government, as a collective, will have to make a decision as to how best they take the next step to reduce the debt burden on the Irish people. That next step must be the most tangible, practical benefit to the Irish people, whether that is a matter of retrospective recapitalisation, or as Deputy Hannigan and others said, to a sale of bank shares or a stake in a bank. It is a matter for the Government to decide but it is certainly better to be in that position where we have options and tools and more of them than was the case two years' ago. I commend the Bill to the House.

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