Brian Cowen (Laois-Offaly, Fianna Fail)

I propose to take Questions Nos. 8 to 11, inclusive, together.

I have received an agenda for the December European Council. Discussions at the Council will focus on economic policy, including the question of limited treaty change necessary to give effect to the question of a permanent crisis mechanism; progress in the Council on the Commission's legislative proposals on enhanced economic governance; and how to ensure that spending at European level can contribute to consolidation efforts by member states. The European Council will be also informed of ongoing work on the evaluation of the European Union's relations with its strategic partners.

My priority at the Council, on behalf of the Government, will be to ensure an outcome to the negotiations that successfully secures Ireland's interests. As agreed in October, Europe needs a crisis mechanism to safeguard the financial stability of the euro area as a whole. It is intended that at the European Council we will agree both on the outline of the mechanism and on an amendment to the treaty.

As the President of the European Council, Mr. Van Rompuy's team is currently consulting member states on a bilateral basis to pave the way for the December meeting, it is too early to say what will be the exact nature of any proposals. We will have to carefully examine whatever emerges from the process but it is clear that the European Council is looking for very limited change. When we have a proposal, we will have to assess carefully any implications for our Constitution and what steps are necessary to enable Ireland to ratify changes.

I received a telephone call from the President of the European Commission, Mr. Barroso, on Friday 12 November. We discussed the statement made that morning by the finance Ministers of France, Germany, Italy, Spain and the UK clarifying issues relating to private sector involvement in any future permanent crisis mechanism, including making it clear that any such involvement could come into effect only after mid-2013 and would have no impact whatsoever on the current arrangements.

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