Enda Kenny (Mayo, Fine Gael)

The selfsame bureaucrats of whom Deputy Higgins speaks fund the entire Irish banking system to the tune of almost €150 billion at a 1.5% interest rate and his own salary is paid out of it. It is important to attend meetings of EU Heads of Government because agreement was reached on our proposal that interest rate reductions be applied. The savings that have and will emerge from this are very substantial. Of course in the general discussions that have taken place the Minister for Finance has been very vociferous about the problem of Anglo Irish Bank and raised the matter long before he came into government. However, the consequence of dealing with it in the manner spoken about by Deputy Higgins became evident very abruptly in Italy when it was mentioned in the case of Greece.

I am not sure what is the opinion of Deputy Higgins but the country has changed direction and there is now a very different reaction to us internationally, which is far more favourable. Political leaders in Europe look at this country as possibly being the first to emerge from this economic challenge with an enhanced reputation and heading in the right direction to be in charge of our own economic destiny. I remind the Deputy that at the end of the day, the ECB and Mr. Trichet have been very favourably disposed towards Ireland and its citizens and €150 billion at 1.5% is a very substantial contribution from people whom Deputy Higgins claims are just bureaucrats.

See this speech in context