Caoimhghín Ó Caoláin (Cavan-Monaghan, Sinn Fein)
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Question 21: To ask the Minister for Finance the plans for the six financial institutions under the bank guarantee scheme; when it is envisioned that the public stakes in the banks will be disposed of as per the programme for Government; and if he will make a statement on the matter. [5395/11]

Michael Noonan (Limerick City, Fine Gael)
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The strategy for the future structure, functioning and viability of Irish financial institutions is being developed in detail and will be agreed with the IMF, ECB and the European Commission. Within the context of a comprehensive reorganization and downsizing of the banking sector, the strategy will identify the appropriate path to ensure that the banking system will operate without the need of further State support.

As provided for in the Programme for Government, this Government is committed to the disposal of the public stakes in the financial institutions as soon as possible at the best possible return to the taxpayer. A timeframe for this has not yet been developed, as our first priority is to stabilize the institutions to ensure they provide the economy with the credit required.