Enda Kenny (Mayo, Fine Gael)

I support the protection of the euro. I listened to the Minister for Communications, Energy and Natural Resources, Deputy Eamon Ryan, describe what might trigger leaving the euro, a view I do not share.

Greece has to re-finance serious loans due shortly. It will have to borrow €53 billion this year to re-finance debts that are expected to rise to €290 billion. The Council's decision has given a stay to allow some sense of stability to be brought back to the Greek position, and as a consequence, to the eurozone.

As the level of debt and borrowing requirements for Greece will become evident in the next eight months, was there a view at the Council meeting that the strategy adopted will be able to deal with it? Will the member states agree to some conditions attaching to a bilateral arrangement with Greece? Has a framework being worked out if, at the request of Greece, the IMF will have to give it serious financing while the other member states do so in proportion to their capacity? Has a detailed framework for Ireland's contribution, one that would be repaid with normal interest conditions, been sent on to the Taoiseach subsequent to the meeting?

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