Enda Kenny (Mayo, Fine Gael)

I have noted the comments of Commissioner Rehn. This matter has not been finalised as yet and there have been some expectations in this regard for some time. I have noted the perception that often applies before European meetings of either Ministers or Heads of Government and I am always one to wait and see what actually happens. The Government is negotiating on an interest rate reduction and I am aware of the Commissioner's comments. As the Deputy is aware, this matter was devolved to the Ministers for Finance to be dealt with and that meeting will take place on Monday next. It is clear that an interest rate reduction would be in this country's interest. This was endorsed by President of the Commission Barroso and has been referred to by others, including the Irish Commissioner, Commissioner Geoghegan-Quinn, yesterday. I prefer to wait and see what happens here. The situation in Portugal and Greece is of very topical conversation in Europe, as the Deputy is aware. Ireland is proceeding on the basis of looking for this deal on a constant basis. We have made the case in respect of an interest rate reduction and are continuing to do that. Obviously, after the meeting next week, we will know whether a conclusion can actually be reached here.

In respect of the Deputy's question about the reduction in the debt and our spending on job creation measures, he will be aware that while the language in the memorandum of understanding still stands, there is a clear understanding that, for instance, the sale of non-strategic public assets will be looked at on a case-by-case basis in respect of investment in job creation, of which the jobs initiative today is but a down payment in terms of the programme for Government.

See this speech in context