Timmy Dooley (Clare, Fianna Fail)

I doubt the word "bankruptcy" will be the euphemism to deal with it. I am sure that, over time, there will be an accommodation.

We discussed on a number of occasions the surmounting of the crisis created by the way in which the Taoiseach entered his first meeting with President Sarkozy as part of his first foray as Taoiseach. There was an interesting tête-À-tête that resulted in the stand-off over the interest rate. As soon as we can have clarity on this, the better. I would be very concerned if we rejected the notion of an increase to the corporate tax rate yet were somehow prepared to give way on the CCCTB issue, or allowed some linguistic accommodation that gave both sides to believe they had won. Most Members on this side of the House believe there can be no accommodation on this issue. We must be very clear that CCCTB is tax harmonisation by the back door and we must set our face totally against it.

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