Eamon Gilmore (Dún Laoghaire, Labour)

I agree with the Deputy that the situation in Portugal and its application are of considerable relevance to our position. They underline again the extent to which the problem has a European dimension and the necessity for the approach being taken by the Government which is engaging in an ongoing process of discussion and negotiation with the European institutions, including the ECB, and other European Union member states. The Minister for Finance is attending the informal ECOFIN meeting in Budapest this week. Until he returns and we know the outcome, I do not want to commit him to the arrangements he will make. As the Deputy knows, he has been very forthcoming in coming to the House to make statements and respond, as he did yesterday. I will certainly discuss the matter with him. I remind the Deputy that the interest rate with which we are stuck is the one he negotiated and something the Government is seeking to reduce. He is asking for a vote on the Portuguese arrangement, although he was very reluctant at the time to have a vote on the Irish arrangement.

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