Ms Barbara Nolan:

My understanding is that at a technical level good progress has been made, but political drive is needed from the 11 member states that are planning to participate in the FTT. It is one of the things we have prioritised to try to get some further progress and agreement, if possible, before the European Union elections. Ireland should watch these discussions closely and with an open mind. We are aware that Ireland was not attracted to the proposal as it stood initially, but it may find things it likes in the adapted version that has finally been agreed.