Enda Kenny (Mayo, Fine Gael)

Originally, I stated the deal was bad both for Ireland and for Europe and, from that point of view, renegotiating elements of it would be very important. That is what has happened. I reiterate we renegotiated the conditions of the deal to some extent, in respect of the reversal in the minimum wage, no further transfers to NAMA and acceptance of a jobs initiative. I am sure the Deputy supports all these measures.

The question of interest rate reduction is obviously important and is being pursued by the Ministers for finance. I clearly stated that I did not meet the British Prime Minister in order to seek an interest rate reduction in our bilateral loan. We opted for a first meeting between two Heads of Government, during which we discussed the European question and what Ireland was doing in terms of decisions made about banks, pursuit of subordinated bond investors and our attitude towards Europe. We thanked the British Government for its support for Ireland's position. Since then that Government has pointed out it will not make bilateral loans available to other countries as it did to ours because of the connections between Ireland and Britain on an entire range of fronts.

This work is proceeding and I intend to go to the meeting later this month to articulate very clearly the progress our country has made, the challenge we face and the seriousness with which Europe should approach its responsibilities collectively, as a union. The Deputy obviously has different views on that but I intend to articulate mine very strongly and clearly on behalf of the Government and the people.

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