Kevin Humphreys (Dublin South East, Labour)
Link to this: Individually | In context | Oireachtas source

87. To ask the Minister for Finance if he, any of his officials, or the Governor or staff of the Central Bank of Ireland held any discussions with the European Central Bank to secure a rebate of the profits made on the holdings of Irish bonds through the securities market programme similar to the exemption granted to Greece; and if he will make a statement on the matter. [36012/13]

Kevin Humphreys (Dublin South East, Labour)
Link to this: Individually | In context | Oireachtas source

88. To ask the Minister for Finance if his attention has been drawn to the fact that Greece has been granted a rebate of €2 billion on profits from Greek bonds bought by the European Central Bank under its securities market programme; if he has estimated the amount Ireland would receive if we were granted the same deal; the amount that would be worth to us; and if he will make a statement on the matter. [36013/13]

Kevin Humphreys (Dublin South East, Labour)
Link to this: Individually | In context | Oireachtas source

89. To ask the Minister for Finance if he, or any of his officials, or the Governor or staff of the Central Bank of Ireland, held any discussions with the German Central Bank Deutsche Bundesbank to secure a rebate of the profits made on the holdings of Irish bonds through the Securities Market Programme similar to the exemption granted to Greece; and if he will make a statement on the matter. [36014/13]

Kevin Humphreys (Dublin South East, Labour)
Link to this: Individually | In context | Oireachtas source

90. To ask the Minister for Finance if he, or any of his officials, or the Governor or staff of the Central Bank of Ireland held any discussions with the Austrian Central Bank Österreichische Nationalbank to secure a rebate of the profits made on the holdings of Irish bonds through the securities market programme similar to the exemption granted to Greece; and if he will make a statement on the matter. [36015/13]

Kevin Humphreys (Dublin South East, Labour)
Link to this: Individually | In context | Oireachtas source

91. To ask the Minister for Finance if he, or any of his officials, or the Governor or staff of the Central Bank of Ireland held any discussions with the Belgian Central Bank Nationale Bank van België/Banque nationale de Belgique to secure a rebate of the profits made on the holdings of Irish bonds through the Securities Market Programme similar to the exemption granted to Greece; and if he will make a statement on the matter. [36016/13]

Kevin Humphreys (Dublin South East, Labour)
Link to this: Individually | In context | Oireachtas source

92. To ask the Minister for Finance if he, or any of his officials, or the Governor or staff of the Central Bank of Ireland held any discussions with the Finnish Central Bank (Suomen Pankki/Finlands Bank) to secure a rebate of the profits made on the holdings of Irish bonds through the securities market programme similar to the exemption granted to Greece; and if he will make a statement on the matter. [36017/13]

Kevin Humphreys (Dublin South East, Labour)
Link to this: Individually | In context | Oireachtas source

93. To ask the Minister for Finance if he, or any of his officials, or the Governor or staff of the Central Bank of Ireland held any discussions with the French Central Bank Banque de France to secure a rebate of the profits made on the holdings of Irish bonds through the securities market programme similar to the exemption granted to Greece; and if he will make a statement on the matter. [36018/13]

Kevin Humphreys (Dublin South East, Labour)
Link to this: Individually | In context | Oireachtas source

94. To ask the Minister for Finance if he, or any of his officials, or the Governor or staff of the Central Bank of Ireland held any discussions with the Italian Central Bank Banca d'Italia to secure a rebate of the profits made on the holdings of Irish bonds through the securities market [36019/13]

Kevin Humphreys (Dublin South East, Labour)
Link to this: Individually | In context | Oireachtas source

95. To ask the Minister for Finance if he, or any of his officials, or the Governor or staff of the Central Bank of Ireland held any discussions with the Banque Centrale du Luxembourg to secure a rebate of the profits made on the holdings of Irish bonds through the securities market programme similar to the exemption granted to Greece; and if he will make a statement on the matter. [36020/13]

Kevin Humphreys (Dublin South East, Labour)
Link to this: Individually | In context | Oireachtas source

96. To ask the Minister for Finance if he, or any of his officials, or the Governor or staff of the Central Bank of Ireland held any discussions with the Central Bank of Malta to secure a rebate of the profits made on the holdings of Irish bonds through the securities market programme similar to the exemption granted to Greece; and if he will make a statement on the matter. [36021/13]

Kevin Humphreys (Dublin South East, Labour)
Link to this: Individually | In context | Oireachtas source

97. To ask the Minister for Finance if he, or any of his officials, or the Governor or staff of the Central Bank of Ireland held any discussions with the Spanish Central Bank Banco de España to secure a rebate of the profits made on the holdings of Irish bonds through the securities market programme similar to the exemption granted to Greece; and if he will make a statement on the matter. [36022/13]

Kevin Humphreys (Dublin South East, Labour)
Link to this: Individually | In context | Oireachtas source

98. To ask the Minister for Finance if he, or any of his officials, or the Governor or staff of the Central Bank of Ireland held any discussions with the Slovakian Central Bank National Bank of Slovakia to secure a rebate of the profits made on the holdings of Irish bonds through the securities market programme similar to the exemption granted to Greece; and if he will make a statement on the matter. [36023/13]

Kevin Humphreys (Dublin South East, Labour)
Link to this: Individually | In context | Oireachtas source

99. To ask the Minister for Finance if he, or any of his officials, or the Governor or staff of the Central Bank of Ireland held any discussions with the Slovenian Central bank Bank of Slovenia to secure a rebate of the profits made on the holdings of Irish bonds through the securities market [36024/13]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I propose to take Questions Nos. 87 to 99, inclusive, together.

On November 26th 2012 a package of measures for Greece was agreed by euro zone finance ministers. This package is designed to help put the Greek economy on a path to sustainable growth and its domestic finances on a sound footing. This package was agreed in the context of the statement by Euro Area Heads of State or Government that the scale of the Greek problem is so large that it requires special attention.

One of the measures agreed in November, the Securities Market Programme (SMP) measure, will see Member States pass on, to Greece's segregated account, an amount equivalent to the income on the SMP portfolio accruing to their national central bank as from budget year 2013. Member States under a full financial assistance programme, such as Ireland, are not required to participate in this scheme for the period in which they receive financial assistance.

It is important to note that the concessions that have been agreed are specific to Greece and are accompanied by significant additional conditionality, and must be seen in the context of the very significant debt restructuring that has taken place in the Greek programme.

Ireland’s needs, as a country close to exiting a programme, are very different to those of Greece.

We have, during 2013, returned to the international debt markets. Taking account of our efforts and delivery on our commitments, our spreads have considerably reduced and the interest cost of our official financing has, through sustained effort by Ireland, been significantly reduced. We continue to work with the Troika and other Member States, but we do not see the SMP measure agreed for Greece as appropriate in our case.