Enda Kenny (Mayo, Fine Gael) | Oireachtas source

I thank Deputy Mathews for his intervention. The point he made about massive flows of money is true in the sense that this was raised at European Council meetings before the ESM was set up and was raised in respect of the manipulation of money around the world. Clearly, with the presidential election coming in the United States, issues arise about fiscal cliffs, as they are seen there, and Mr. Bernanke has made his decisions.

Our yields have fallen since the announcement from the ECB. Indeed, the secondary market for Government bonds has fallen to 5.2% for the ten year benchmark and the yield on treasury bills, at 0.7% on Thursday, 13 September, is 1.1% lower than in July.

The answer I have given to a number of Deputies is that our officials from the Department of Finance are focused in the discussions on getting the best deal for our people and our country arising from the decision of 29 June, which was accepted by all the heads of Government. It is in that context that our discussions and negotiations will continue to take place.

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