Enda Kenny (Mayo, Fine Gael)

Deputy Adams will be glad to know that the conclusion of the meeting on Friday - it was contained in the statement that was issued - was that it was agreed that countries in the European Financial Stability Facility package would have their interest rates reduced. That has not applied to Ireland because of claims for conditionality that are being attached to it. I cannot speak for other European leaders but I speak with them on corporate tax rates or anything else. As the Deputy will be aware, the Commission published a paper on the common consolidated corporate tax base. It is fully entitled to initiate legislation and neither I nor the Deputy can stop it from doing so. However, in respect of that, I stated that we would participate in discussions but our view is absolutely clear in respect of the CCCTB and the corporate tax rate. On the question of the debt being sustainable, we have made this point on many occasions. The problem for our country is that we are able to deal with a challenging position in respect of the difficulties arising from our own economy but it is the cost of the banking structure that places the real burden on our people and it is there that flexibility, change and adjustments have to apply. That is exactly where the discussions will be focussed as we prepare for the meeting of 24 and 25 March, and beyond.

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