Billy Kelleher (Cork North Central, Fianna Fail)
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Question 63: To ask the Minister for Finance his views on whether the appointment of Christine Lagarde as head of the International Monetary Fund will be helpful to Ireland's efforts to ensure debt sustainability and to impose losses on unsecured, unguaranteed senior bondholders in Anglo Irish Bank and Irish Nationwide Building Society. [18573/11]

Michael Noonan (Limerick City, Fine Gael)
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As the Deputy will be aware we are seeking a reduction in the interest rate being charged on EU funds and have already explained our position in this regard to Christine Lagarde in her previous role as French Finance Minister. I am confident she is aware of our position but the IMF has no direct role in the decision on the interest rate for EU funds. As the Deputy is aware Ireland supported the appointment of Christine Lagarde to the post of Managing Director of the Fund and I look forward to a fruitful working relationship with her in that role.

I have indicated to the House that, consistent with Government policy, I will raise the issue of burden sharing to allow for the imposition of loses on unguaranteed and unsecured senior bondholders in Anglo and INBS with the IMF and EU authorities in the autumn. The Government will not take any unilateral action in this area, but will work with our external partners to explain our perspective and hear their views.