146 Deputy Timmy Dooley asked the Minister for Finance if he will refer to recent media reports that the drawdown of funds under the EU-IMF bailout programme is far ahead of schedule, and provide details of the most recent amount drawn down; if the drawdown is ahead of schedule or of our needs and, if so, the reason for same; how the funds have been used; how the excess amount was drawn down and, if held, if it is invested in commercial banks and the interest rate being received; if the interest rate is higher than the rate being paid to the EU-IMF; if he will confirm that any reduction in the rate under the bailout programme applies only to future moneys drawn down; the reason moneys are being drawn down in excess of current requirements; if the excess drawn down is being done by or encouraged by the Central Bank to take pressure off ECB money provided to commercial banks; the current estimate for the duration of the bailout programme; if the full amount provided in the programme will be required or if the bank bailouts will be less than the provision made in the programme; and if he will make a statement on the matter. [21292/11]

Summary

146 Deputy Timmy Dooley asked the Minister for Finance if he will refer to recent media reports that the drawdown of funds under the EU-IMF bailout programme is far ahead of schedule, and provide details of the most recent amount drawn down; if the drawdown is ahead of schedule or of our needs and, if so, the reason for same; how the funds have been used; how the excess amount was drawn down and, if held, if it is invested in commercial banks and the interest rate being received; if the interest rate is higher than the rate being paid to the EU-IMF; if he will confirm that any reduction in the rate under the bailout programme applies only to future moneys drawn down; the reason moneys are being drawn down in excess of current requirements; if the excess drawn down is being done by or encouraged by the Central Bank to take pressure off ECB money provided to commercial banks; the current estimate for the duration of the bailout programme; if the full amount provided in the programme will be required or if the bank bailouts will be less than the provision made in the programme; and if he will make a statement on the matter. [21292/11]

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• Fiscal Policy

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