Dáil debates

Wednesday, 29 October 2008

4:00 pm

Photo of Enda KennyEnda Kenny (Mayo, Fine Gael)

I assume that the Taoiseach briefed the Heads of Government on the Millward Brown analysis of why people voted the way they did on the Lisbon treaty. Reports were that the Taoiseach gave an in-depth presentation to the members present. President Sarkozy said that he expected the ratification process of the Lisbon treaty to continue, and that he expected agreement between the 27 member states on the common path to follow during the European Council meeting in December. What position is the Taoiseach in to give a briefing on that path and how it is to be followed?

At their Paris meeting on 12 October, the eurozone countries set out a common set of rules to assist the banking sector until the end of 2009. Governments are entitled to guarantee loans between banks and they can buy preference shares. The final text of the pledge stated that each member state will make available to financial institutions tier one capital. I know that the Government made an effort to change the word "will" to "can", but that was not adopted. The Taoiseach said last week that the banks were well regulated and well capitalised. Arising from the current situation, does he envisage a situation where the Government must capitalise the banks? In the context of the agreement by the eurozone countries on 12 October in Paris, how does the Taoiseach see that happening and to what extent?

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