Billy Timmins (Wicklow, Fine Gael)

Will the Minister outline the terms of reference of the reflection group and when it will report? Does it actually have terms of reference? In the last few weeks at the sub-committee I have heard about the implications of the "No" vote from people involved in the private sector, people like Catherine Day. The representatives of the IDA and Enterprise Ireland said there had been no immediate impact, but that there would be somewhere along the line. There is concern about the uncertainty, especially regarding foreign direct investment. Will the Minister outline the implications? Has the "No" vote impacted in any tangible way on Ireland and its role in the European Union?

Is there an expectation among our European colleagues that there will be a second referendum in Ireland? Is there pressure to hold such a referendum? President Sarkozy has stated he will come here in early December. Will the Minister confirm if he is coming and what will be on the agenda?

My understanding of the financial crisis cell is that the Government requested a change to the policy on capitalising the banks, specifically a change in the wording from "will capitalise the banks" to "may capitalise the banks". Will the Minister enlighten me on this? Was there dissatisfaction expressed or intimated on the position Ireland took without consulting the European Union? Perhaps the Government actually consulted it. I referred to the report in which member states were requested to co-ordinate their responses. Was this a reference to Ireland's position?

Was any consideration given at the Council meeting to assisting Iceland? The European Union has slipped up in this case. We did not offer any assistance and the Icelandic Government had to go elsewhere. It was a missed opportunity.

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