Brian Cowen (Laois-Offaly, Fianna Fail)

My reply made the point that the Council discussed the financial and economic situation. We can examine this issue in more detail during the upcoming statements on the European Council. ECOFIN is engaged in regulatory change and reform of financial services. At the December meeting there will be an important discussion arising from decisions taken at ECOFIN by the Council to consider the economic and financial response.

Regarding what will take place at next week's meeting, I am at a slight disadvantage because on my way to the House I was informed that the Swedish Presidency called the meeting for tomorrow week. I expect it will primarily concern institutional matters. Since the Council meeting of 29 and 30 October the President of the Commission has been to Delhi and the United States on the climate change issue. I do not have precise information on whether he will be in a position to report back to the Council on that matter next Thursday but it may occur.

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