"Default" - Parliamentary Question - PQ to Minister Noonan
On Tuesday 12 April 2011 the Minister for Finance responded to a Parliamentary Question (PQ) from Deputy Catherine Murphy with regard to default.
For completeness I have copied the PQ and the Minister’s reply –
122. Deputy Catherine Murphy asked the Minister for Finance if a risk assessment has been carried out since September 2008 in relation to a sovereign default; if so, what are the contingency arrangements; and if he will make a statement on the matter.
[FONT=Calibri,Calibri][FONT=Calibri,Calibri]Minister for Finance (Deputy Michael Noonan): [/FONT][/FONT]
[FONT=Calibri,Calibri][FONT=Calibri,Calibri]In relation to the issue of sovereign default, let me be clear: Ireland has never contemplated the possibility of defaulting on its sovereign debt and this position has been restated on several occasions. The Government, without any question, will fully honour all its legal obligations to its creditors and has no intention whatsoever of allowing a default. [/FONT][/FONT]