The finance minister's welcomed news that AIB is to begin repaying up to four billion euro to the taxpayer.

But Michael Noonan says the money will go towards repaying the national debt instead of day-to-day spending.

This morning the EU's bank regulator gave permission for the bank to start repaying some of its emergency aid, ahead of an eventual return to private ownership.

But Michael Noonan's told Today FM the proceeds won't be going towards everyday spending: