Michael Creed (Cork North West, Fine Gael)

I have two brief questions on the recently announced stress tests for European banks. Will the Minister of State outline what this development says about the previous stress tests, which gave a clean bill of health to the banks that the taxpayer in this country has had to bail out since? What confidence can we have that these new stress tests will plumb the depths of the banking crisis throughout Europe? Does the Minister of State not agree that Europe must face up to its banking crisis? We have been asked to bail out others as part of the deal we received because our deal was to pay off German and French banks which lent money here.

I refer to the holding of the referendum and the matter of submitting the case to the courts for adjudication. I realise the Minister of State cannot indicate what the Government will or will not do but will he discuss the matter with the Government? One of the benefits of such an approach would include greater clarity and transparency in the process and the decision making.

See this speech in context