Brian Lenihan Jnr (Dublin West, Fianna Fail)

I have had numerous contacts with the Commission since last September to deal with Ireland's position in advance of going into the excessive deficit procedure because it is important we work with it to resolve our difficulties. We have the support of the Commission on the measures we are taking.

The fundamental issue with regard to generating confidence is the need to stabilise our public finances. This is essential in terms of fostering public confidence. At all stages, we have taken the necessary measures to stabilise public finances — last July, last October in the budget and through the announcement made by the Taoiseach in early February with regard to further expenditure adjustments.

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