Micheál Martin (Cork South Central, Fianna Fail)

Will the Taoiseach be specific in respect of the response to the questions I have put, especially the items he has tabled for inclusion in the agenda of the forthcoming EU Council meeting? Let us be clear: from the outset of the overall global crisis the Greek crisis has been the catalyst for changing the architecture for how Europe deals with countries in difficulty. It was largely responsible for the July deal and the reduction in interest rates. Now we have another opportunity because the Greek crisis is driving fundamental change again. We are facing a Greek default and significant bank recapitalisation throughout Europe. We were informed that if we went unilaterally and burned bank bondholders we would risk sovereign default and contagion. That is now removed and the road blocks will be removed next week.

Has the Taoiseach specifically put this item on the agenda of the summit to force bank bondholders to share the burden from an Irish perspective? Has the Taoiseach insisted that any deal must incorporate the concerns of Ireland in this regard and that our agreement to any deal must be on the basis of our getting an outcome on the burning of bondholders in the context of the Greek issue? Has the Taoiseach rung his close friend Chancellor Merkel about this and put it to her, given the profound nature of the debate to take place? I accept it will be a serious and grave meeting over the weekend but it is an opportunity for us. Will the Taoiseach answer the question of whether he has specifically put on the agenda that Ireland seeks such a deal?

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