Micheál Martin (Cork South Central, Fianna Fail)
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Question 204: To ask the Minister for Finance his plans in respect of restructuring the Anglo Irish Bank promissory note and lowering the annual payment burden; and if he will make a statement on the matter. [5154/12]

Michael Noonan (Limerick City, Fine Gael)
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As I have indicated I am committed to reviewing the approach to the Promissory notes with a view to reducing the overall cost to the State of correcting the banking system. The Troika have agreed to engage in a process with Irish Officials to produce a common paper which will consider options for re-engineering the notes in terms of the maturity of the notes, the interest rate, the cash flows etc. In tandem with this technical review the Government has commenced a campaign at political level to garner support for an approach which is more beneficial to the Irish State. Additional detail on such proposals will be available when the on-going work is further advanced.