Michael McGrath (Cork South Central, Fianna Fail)
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Question 155: To ask the Minister for Finance if he will publish the correspondence between the Government and the European Central Bank during the period leading up to Ireland's decision on 21 November 2010 to apply for an EU / IMF Programme facility. [17487/11]

Michael Noonan (Limerick City, Fine Gael)
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During an ongoing crisis, it is important for relationships between institutions to be developed, in order to allow for confidential negotiations to take place, especially on particularly sensitive issues. This is particularly the case in relation to the Irish authorities dealing with the ECB. It is normal practice for states to protect the confidentiality of these discussions, and in fact is usually enshrined in the rules of association of institutions. Indeed, this is reflected in the Freedom of Information Act, which provides for exemptions for records relating to, for example, information received in confidence, commercially sensitive information and the financial and economic interests of the state in sections 24, 26 and 31. These factors counterbalance the public interest, protecting the ability of the Government when negotiating or deliberating on matters of national importance. It is considered that release of these records would impact on the integrity and viability of the decision-making process to a significant degree without a countervailing benefit to the public, and would prejudice our relationship with the ECB. For this reason, I do not intend to release this information.