Eamon Gilmore (Dún Laoghaire, Labour)

By any standards, this May has been an active month in respect of European economies and Europe's overall financial position. Does the Taoiseach expect the June Council to review May's developments including the Greek package, the €750 billion stabilisation package and some of the proposals from the Commission? On 12 May, the Commission issued a communication to the European Parliament, the Council, the Central Bank and various other organs of the European Union. This was the document which raised concerns that individual member states would have to pre-submit budgets for evaluation by other Finance Ministers and the Commission in advance of being presented to national parliaments. What is the Taoiseach's understanding of the status of this document? Is it intended that the Council will consider it? Where does the Taoiseach see the document going?

What is the Taoiseach's view of the decision or announcement by Chancellor Merkel last week in respect of the banning of short selling and the ban on credit default swaps, which has caused a certain amount of unease in the markets? Was any notification given by Chancellor Merkel to member states, including the Taoiseach, of her decision on the matter? Does the Taoiseach anticipate that it will be discussed at the June summit?

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