Enda Kenny (Mayo, Fine Gael)

I have explained this previously. It is not a case of trying to circumvent anybody. The decision to devolve authority to the Finance Ministers was made deliberately. It was made because lending countries told me directly that they would only go to Parliament once. Therefore, we need to have accurate figures and know the truth of the scale of the requirement from Ireland arising from the bank debacle. As I was not in a position to give an accurate figure to other leaders, the matter was not decided. The reason I was not able to give that figure, as the Deputy knows, is that the stress tests on the banks had not been completed. Therefore, in the absence of clarity and truth about the matter, the leaders decided to wait until the stress tests had been completed and to devolve authority to Finance Ministers to conclude the negotiations on the interest rate reduction. As I said, Greece was not involved in the EFSF bailout, as it was in a slightly different position. However, an interest rate was agreed to for Greece, as well as an extension of the time allowed for repayment. As Ireland was not in a position to give an accurate and truthful account of the scale of its requirement because the stress tests had not been completed, the leaders, including President Sarkozy, said they would devolve authority to conclude the negotiations to the Finance Ministers. The negotiations are ongoing. That is where the matter lies and progress is being made. I hope we can bring a conclusion to the matter. While I would like it to happen very quickly, I have never been in a position where I genuinely could put a date on when it might become a reality.

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