Enda Kenny (Mayo, Fine Gael)

What I said was that the principle had been accepted and the decision was made subsequently to devolve responsibility for that negotiation to the Finance Ministers, which matter is being pursued. The Deputy should appreciate that both myself, the Minister for Finance, the Tánaiste and the Minister of State with responsibility for European affairs, Deputy Creighton, have raised the issue of the interest rate reduction with very many countries and very many connections such as Hungary, Poland, Germany, France, the Netherlands, Slovakia, Greece, United Kingdom and others and we will continue to do so. I expect that the principle that was accepted here of an interest rate reduction is what is now being pursued by the Minister for Finance. I make the point again that I believe that the difficulties being encountered in Greece and to a lesser extent, in Portugal, are of serious concern to the eurozone countries and must be looked at in a very serious light. From that point of view, I believe that Europe must look at where it is headed and how it can best support those countries in a bailout situation. In Ireland's case, we are meeting very difficult and challenging circumstances but are on track to and the assistance that has been agreed in principle should be applied to our country. That is why the Minister for Finance and his colleagues are pursuing this at their level of responsibility. Deputy Martin asked if we are funded until the end of this bailout and I answer that we are, until well into 2013. One could ask the question about the United States, whether that country is funded through to 2013. President Obama has had to make some serious changes.

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