Brian Cowen (Laois-Offaly, Fianna Fail)

Taking the last point first, the economic and social strategy of the EU does not get into the detail of overseas development aid commitments, even though the European Union is the largest contributor of overseas development aid in the world. I do not envisage that point being incorporated into the strategy. That is not to say it is not an important issue but it is not part of the parameters of discussion in respect of this aspect of European policy for the future.

Deputy Gilmore raised the point that there is a capital key in the order of 1.2% and if the figure mentioned by Deputy Gilmore was the total amount to be raised, it would be in that ballpark. We must show solidarity with colleagues in the Union and that involves everyone taking on national responsibility as well. I do not have a problem with the statement issued by the European Council in respect of the mechanism mentioned. We will not have a situation where the lending state will pay more. If we are borrowing money at X%, the state to which we lend money will have to cover the X% as well. Costs are covered. The state provides the money but ensures the interest costs are recouped in the repayment arrangements by the state one is assisting. That is an important point when people are considering this matter. Technical arrangements have been devised to allow that to happen. Without going to the detail, it is a point I want to make for the purposes of clarification.

Regarding the preparations for the European Council, the General Affairs Council is the Foreign Ministers Council and is the Council that still has a requirement under the treaties to prepare the content and agenda items of the European Council meetings. I suggest, therefore, that the Foreign Affairs Council, through the Minister for Foreign Affairs, continues to be utilised by any committee seeking to know what is emerging on the agenda of a European Council meeting prior to the holding of such meeting. Members will be aware that agenda items are often overtaken by events. A debate held one particular week might not be relevant to what emerges the following week. An example is the Greek situation, discussion on which again took place at the European Council owing to the emergence of an agreement on the mechanisms. This discussion took up the first part of the meeting. Having a prior meeting does not necessarily mean one gets an accurate reflection of what will take place at a forthcoming meeting. I believe the Joint Committee on Foreign Affairs remains the best forum for that type of interaction between Parliament and the Government.

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