47 Deputy Joan Burton asked the Minister for Finance the reason the promissory notes issued in respect of Anglo Irish Bank, Irish Nationwide and EBS carry coupon rates ranging from 4% to over 6%; if consideration was given in structuring these notes to the use of zero coupon notes; if consideration was given in structuring these notes to the use of shorter term money, rolled over at lower interest rates, as was the case with the National Assets Management Agency bonds; if he will give consideration to the use of zero coupon notes, or another interest minimising mechanism, to finance the remaining €9.1 billion to be granted to Anglo Irish Bank and Irish Nationwide by end 2010, potentially reducing the 2011 General Government Deficit by some €700 million based on the prevailing ten year sovereign bond rate on 4 November 2011; and if he will make a statement on the matter. [41829/10]

Summary

47 Deputy Joan Burton asked the Minister for Finance the reason the promissory notes issued in respect of Anglo Irish Bank, Irish Nationwide and EBS carry coupon rates ranging from 4% to over 6%; if consideration was given in structuring these notes to the use of zero coupon notes; if consideration was given in structuring these notes to the use of shorter term money, rolled over at lower interest rates, as was the case with the National Assets Management Agency bonds; if he will give consideration to the use of zero coupon notes, or another interest minimising mechanism, to finance the remaining €9.1 billion to be granted to Anglo Irish Bank and Irish Nationwide by end 2010, potentially reducing the 2011 General Government Deficit by some €700 million based on the prevailing ten year sovereign bond rate on 4 November 2011; and if he will make a statement on the matter. [41829/10]

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• Banks Recapitalisation

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