Bertie Ahern (Dublin Central, Fianna Fail)

A request was made last year and earlier this year by Jean Claude Trichet, the President of the European Central Bank, that in the long term price stability should be included as a principle of the economic policies of the Union, as it has been for the past 50 years. It has nothing to do with oil. The oil issue is an enormous one which is being discussed today at the ECOFIN Council meeting in Brussels. I understand an OPEC meeting will be held this weekend but it is not related to the Constitution.

On Russia, one can only surmise on these matters but I believe President Putin is seriously considering moving on the Kyoto Protocol. He is facing a number of difficulties. There are a number of industries on which, if they were here, we would be 1% non-compliant and Russia would be 100% non-compliant but he is determined to move towards compliance. Russia is examining its position. It faces difficulties but if the Deputy is asking me to guess President Putin's views, I believe he wants to do this because he believes it is the right thing to do. Obviously Russia has a huge trading position because of its emissions and what it would mean to Russia but he appears far more likely to do it than not. The Commission pressed President Putin on the issue and while he did not give a certain answer, he was more forthcoming than I thought he might be. He believes it is the right thing to do and if Russia came in on this it would give the Kyoto Protocol campaign a major boost with the position of the United States. He would be very impressed with what we do here——

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