Enda Kenny (Mayo, Fine Gael)

It is not relevant to the situation because the overall position was that there were other demands on Ireland to increase our corporate tax rate in respect of receiving any interest rate reduction. What was in question in respect of President Van Rompuy's suggested compromise was not circulated to every leader and was an attempt by him possibly to come to a conclusion on the issue. However, my dealings with other leaders made it clear this would not be the case.

While I accept the Deputy's interest in this matter, my priority now - if a meeting is held on Friday, whether a full Council meeting or a meeting of the eurozone countries - is to ensure the issues that have been put on the table by the Minister for Finance for some time in terms of the overall pricing, maturity, and flexibility on all of these issues is decided upon decisively by the European leaders. There is no point in having a meeting which will not bring about a conclusion in a comprehensive sense to something that will not go away unless it is dealt with. From our point of view, we have continued to discuss the question of the interest rate reduction with our colleagues, but we are now in a situation where Europe itself must respond to a European problem. That is reflected in Moody's analysis and downgrading. Moody's problem is not with Ireland; it recognises that this is a European problem which must be responded to in a European sense.

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