Joan Burton (Dublin West, Labour)

Is the Minister's reply not reflective of the hubris with which the Fianna Fáil Government has dealt with the EU over the last 13 years when we were cock of the walk? Does the Minister recall that the ECB is currently extending credit facilities of €100 billion at 1% to Irish banks? Many people in the ECB now seem to be taking the view that perhaps that could be pushed over to the Regling fund at the Minister's wonderfully negotiated rate of 5.8%. The Minister is constitutionally correct in saying that the ECB has no role concerning legislation in Ireland. From a negotiating viewpoint, however, given that we are getting €100 billion at 1% for our banks but our citizens will pay 5.8%, does the Minister not want to mend his fences with Mr. Trichet?

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