Written answers

Wednesday, 5 October 2011

9:00 pm

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
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Question 61: To ask the Minister for Finance if the entirety of the agreement between him and the EU-ECB-IMF as part of the programme of financial support for Ireland has been published on his Department's website with the programme documents dated 16 December 2010; if he will confirm if there are any further elements of the agreement contained in unpublished letters or correspondence; and if he will make a statement on the matter. [27776/11]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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The EU/IMF Programme of Financial Assistance for Ireland documentation dated 16 December 2010 sets out the policy conditions for the provision of financial support to Ireland by EU Member States and the International Monetary Fund. These documents underpin the three year Programme of banking and economic measures that have been agreed with the European Commission, the European Central Bank and the International Monetary Fund (the Troika). The documents are :

· the Memorandum of Economic and Financial Policies (MEFP)

· the Memorandum of Understanding on Specific Economic Policy Conditionality, (MoU)

· the Letters of Intent to the IMF and the EU Authorities; and

· the Technical Memorandum of Understanding (TMU) attached to the Letter of Intent (LoI) to the IMF.

All of these documents can be found on the Department's website: www.finance.gov.ie

In addition to this documentation, there was correspondence which was confidential because it contained commercially sensitive information concerning planned financial sector reform including the restructuring of Anglo Irish and INBS.

As the Deputy will be aware, following the joint first and second quarterly programme review in April 2011 and the third quarterly review in July 2011, the programme documentation was revised. The revised documentation dated 28th April 2011 and 28 July 2011 can also be found on the Department's website.

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