Joe Higgins (Dublin West, Socialist Party)
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Question 44: To ask the Minister for Finance if he had discussions on the margins of the EU summit on 30 January about the promissory notes relating to Anglo Irish Bank. [5173/12]

Michael Noonan (Limerick City, Fine Gael)
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As the Deputy is aware 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. I have met with Commissioner Rehn and Mario Draghi President of the European Central bank as well as a number of my counterparts from Member States to progress the matter. However, I did not attend the EU summit on 30 January. Additional detail on such proposals will be available when the on-going work is further advanced.