Micheál Martin (Cork South Central, Fianna Fail)

I know from trying to persuade North American companies to invest in Ireland that they hold certain views of the European Union which often determine their decisions. To be fair, however, they prefer consistency in some respects. Prior to becoming President of the European Council, Mr. Van Rompuy expressed to us his view as Belgian Prime Minister of the proposal. The fact that the proposal is likely to arise for discussion means that we have to give it our considered examination before taking a stance on it.

In terms of the Council's communique on Greece, we should note that country's success in its recent bond issue, even if the price was quite high. The Council wanted to show its solidarity but, as Deputies will be aware, the difficulties in this respect were well flagged. The Germans in particular had grave concerns about rushing in with a support mechanism. What has been achieved is not only a statement of solidarity, but also a commitment that a loan facility will be available if required. However, the Greek Government has not yet requested any assistance. It is a significant statement in itself that Europe will come to the rescue.

See this speech in context