Brian Lenihan Jnr (Dublin West, Fianna Fail)

The decision by Portugal yesterday to seek help confirms yet again that Ireland is far from being alone in facing grave difficulties on the financial and economic front. I am sure the Tánaiste is aware that the terms of the deal to be secured by Portugal will be of great relevance to Ireland. The deal should confirm again that the interest rate to be charged will be reduced in order to reflect a more sustainable figure, as well as the major changes in the support programme since last year. This has been agreed by the Commission since February. Given this, will the Tánaiste agree to find time next week for a short debate to enable the Minister for Finance to update us on the outcome of the ECOFIN meeting taking place today and tomorrow?

The second issue I wish to raise on foot of this is that while it may not be legally required to have a vote of the House, it appears other member states, as the Tánaiste is aware from the discussions on the corporation tax issue, choose to have votes on such arrangements. It might be desirable to have a vote in the House on the Portuguese arrangement, if only to strengthen the Government's hand for the purposes of the negotiations.

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