Robert Troy (Longford-Westmeath, Fianna Fail)
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Question 27: To ask the Minister for Finance his views on the progress of talks between the Troika and Greece on a second programme of assistance for that country; the impact the delays in concluding the agreement are having on the stability of the eurozone; and if he will make a statement on the matter. [9920/12]

Michael Noonan (Limerick City, Fine Gael)
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Early on Tuesday morning, the Eurogroup of Finance Ministers reached agreement with the Greek government on a policy package that constitutes the basis for the successor programme of financial assistance for Greece. This new programme provides a comprehensive blueprint for putting the public finances and the economy of Greece back on a sustainable footing and hence for safeguarding financial stability in Greece and in the euro area as a whole. I see this as a very positive development; resolving the difficulties in Greece is one of the key elements of the five-point plan agreed by Heads of State or Government last October in order to address the difficulties in the euro area.

In terms of main details, the second programme for Greece will involve additional official financing of €130 billion over the period to 2014 subject, of course, to strict policy conditionality. The involvement of the private sector through a voluntary nominal haircut of 53.5 per cent on its holdings of Greek government bonds is a key element. A number of measures to strengthen monitoring and implementation are envisaged.