Seanad debates

Thursday, 9 February 2012

11:00 am

Photo of Maurice CumminsMaurice Cummins (Fine Gael)

As the Senator is aware, we are in a process of exploring arrangements with the troika to re-engineer the promissory notes and to find a less expensive solution by replacing them with other financial instruments with a long maturity. In simple terms, the objective of the Government is to significantly reduce the overall cost to Irish taxpayers of the promissory note arrangements that we inherited from the previous Government. Senator O'Brien is aware that the troika will bring forward a common paper in the coming weeks. This gives us the basis of an opportunity to move forward on this area of debt. It is a medium-term strategy and the decision-making process in the EU will take time, of that there is no question. I am sure Senator O'Brien is aware of this situation.

Senator Mullen called for a debate on abortion laws. Senator Bacik remarked on the implication of the ABC v. Ireland judgment and the report due in June. We should probably wait for the report and we can probably arrange a debate on the issues at that time.

Senator Mac Conghail asked about the Electoral (Amendment) (Political Funding) Bill. Committee Stage will be taken in the House next week. It will be well over by Wednesday and probably in the other House at that stage. Senator Conway commented on the question of the purchase of mobile phones, subscriber identification module, SIM, cards and so on. The Minister, Deputy Rabbitte, will be in the House on 22 February to deal with media standards and so on. Perhaps the matter could be raised with the Minister while he is dealing with the communications end of it at that stage. Senator Conway referred to the RTE programme "Raw".

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