Micheál Martin (Cork South Central, Fianna Fail)
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Question 73: To ask the Minister for Finance if he will provide an update on the negotiations regarding the promissory note on Anglo Irish Bank; the person attending these negotiations on his behalf; if the reduction of €15- €20 billion will be achieved; and if he will make a statement on the matter. [34011/11]

Michael Noonan (Limerick City, Fine Gael)
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As indicated I am eager to have the promissory notes examined to see if they can be reconstituted or re-engineered in a better way for the State, for example by lengthening their maturity or reducing the interest rates on them, or both. I raised this issue during discussions with the EU Commission, ECB and the IMF at the last quarterly review in October. Since then technical discussions are underway between my officials and officials from the ECB and EU Commission in regard to the promissory notes. I have also indicated that discussions have commenced with the relevant authorities, at a technical level, but as yet there is no indication of a successful outcome.