243 Deputy Stephen S. Donnelly asked the Minister for Finance the basis on which the interest rate on any lending from the European Stability Mechanism will be calculated pursuant to Article 20 of the ESM Treaty; the reason the Treaty no longer contains explicit figures for the cost of funds, when these had been specified in the July 2011 version of the Treaty; if he sought at any stage to have a specified costs of funds inserted in the Treaty, in order to provide certainty on that matter should Ireland need to avail of the ESM; and if, notwithstanding his stated belief that Ireland will return to the markets for funding at the end of the current programme, his Department has made any estimate of the potential costs of funding under the ESM, by way of contingency planning. [25531/12]

Summary

243 Deputy Stephen S. Donnelly asked the Minister for Finance the basis on which the interest rate on any lending from the European Stability Mechanism will be calculated pursuant to Article 20 of the ESM Treaty; the reason the Treaty no longer contains explicit figures for the cost of funds, when these had been specified in the July 2011 version of the Treaty; if he sought at any stage to have a specified costs of funds inserted in the Treaty, in order to provide certainty on that matter should Ireland need to avail of the ESM; and if, notwithstanding his stated belief that Ireland will return to the markets for funding at the end of the current programme, his Department has made any estimate of the potential costs of funding under the ESM, by way of contingency planning. [25531/12]

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