Enda Kenny (Mayo, Fine Gael)

In any event, my approach was neither negligent nor reckless. The Deputy, of all people, should know that one cannot attempt to buy a house unless one knows the price of it and what one has in one's own account. In the same way, I considered it was appropriate that we should not discuss at length the question of an interest rate reduction, or any adjustment to the IMF-EU package, without knowing the extent of the liability following the stress tests.

We do not want to continue in a monthly sea of confusion about where we stand. There was general agreement among the heads of government that be the case. Following my proposal that the matter should not be discussed, there was agreement that the next meeting of the finance Ministers will take it forward after we ascertain the level of liability. The Deputy is aware that long before the recent general election, I made the point that I considered that the IMF-EU deal, which was done with Ireland as a sovereign country, needed to be adjusted in terms of the interest rates and the cost of the banking structure. Clearly, I do not disagree with the Deputy's comment about reckless banking practices. That is why a number of serious investigations are ongoing.

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