Seán Crowe (Dublin South West, Sinn Fein) | Oireachtas source

I listened to what the Tánaiste said about the situation in Syria. I hope his optimism is justified because most of the information we get indicates that the situation is getting worse. The fact that the opposition leaders are talking about potential dialogue is a positive development. The significant worry relates to the arms embargo and the possibility of some EU or other countries doing their own thing in respect of that. I am aware of the recent leaked EU heads of mission report on East Jerusalem. Again, that report had fairly negative conclusions. There is a window there and, hopefully, we will see some action soon because the possibility of a two-state solution is slowly ebbing away. If the US will not broker talks, the only other option is the EU. The difficulty there concerns consensus.

The Tánaiste spoke about youth employment. There will be a €6 billion investment in youth unemployment measures but the big question is when the youth unemployment initiative is likely to be finalised and operational. I know the Tánaiste spoke about the work of the Minister for Jobs, Enterprise and Innovation on the details but people want to know when it will be introduced. Will it be this year or the next? When will we see something positive resulting from this money? Is it the Government's intention to provide any matching funds in respect of the funds drawn from the €6 billion? How will that be allocated?

There was some positive news on the radio about the bank recapitalisation and extending the maturities for the EU portion of the bailout loans. Again, the real issue is the use of the ESM to retrospectively recapitalise the pillar banks and the fact that we will get €30 billion of Irish taxpayers' money back. Again, the Tánaiste spoke in terms of mood music coming from Germany, including from the Social Democrats. This mood music suggests that a deal on this legacy debt will not be forthcoming. I know it is difficult but can he give the committee his assessment of the likelihood of a deal on legacy debt and outline when he expects the separation of banking debt and sovereign debt to be realised?

Again, there is great optimism in this regard, but the mood music seems to be changing. People want to hear news of a positive nature about their own lives. I held an advice clinic on Friday last and spent the entire time dealing with people whose mortgages were in distress, young people who were seeking employment and, despite the fact that there is supposed to be a huge number of houses available, those who were in search of housing. The mood among people is down-beat, as is my own because I am trying to assist them in dealing with their problems. Announcements are being made in the media, but nothing is trickling down into ordinary people's lives. In the context of employment creation, citizens want it to happen sooner rather than later. When will the relevant funding become available and on whom will it be spent?