Enda Kenny (Mayo, Fine Gael)

I join with the Minister for Justice and Equality and Deputy Martin in respect of the tragic incident in which Garda Ciaran Jones lost his life. I am aware of the general circumstances that Garda Jones, who was off duty, was attempting to help persons in distress when this tragic accident occurred. I am also aware of the death of a Filipino national. We extend our sympathies to the two families on what is a tragedy for them arising from the excessive rainfall yesterday and the consequent flooding.

In response to Deputy Martin's question on the euro, this is a serious matter. The German Chancellor must have the authorisation of the Bundestag for any agreement beyond what was already approved in September. That is why she is addressing her Parliament in respect of that approval.

A broad range of issues was discussed at the meeting of the 27 member states of the European Union. It was not strictly related to the eurozone crisis but that was a central part of the discussion in the latter part of the meeting. The fundamental questions to be answered were raised by a number of speakers. On behalf of this country I made the point strongly, which received support from other countries, that the decisions which it is hoped will be taken on Wednesday, cannot be taken in isolation. They are all interlinked and connected. The fundamental questions being asked were whether we can afford to let Greece default; if €109 billion is sufficient to rescue the situation; to what extent and by what method the ESFS fund can be leveraged; and how a guarantee and to what extent the so-called firewalls can be put in place to prevent contagion and serious issues arising for other countries. Those central questions were the focus of a response from leaders.

For our part I voiced that opinion exceptionally strongly and it received support. The discussions that are ongoing are complex and technical in respect of what needs to be done if the situation is to be rescued. I cannot give any further detail beyond what was discussed at the meeting, both of the eurozone and of the 27 European Union member states. Deputy Martin indicated that the German Chancellor is giving a detailed response to the Bundestag, but that level of complex detail was not discussed at the meetings of the eurozone or the 27 member states.

There was an agreement on the range of the discussions that would take place between the technical people who are looking at the involvement of the private sector in the banks in the Greek situation. Suffice to say that although Prime Minister Papandreou was of the opinion originally that his country could get back to the bond markets at the end of 2012 it is now clearly the situation that Greece will not be able to get back to the bond markets until 2020. That means the situation for Greek citizens will be severe and austere for the next ten years.

The ECOFIN meeting which was to be held tomorrow is now cancelled. Either that means there has been some conclusion at the technical discussions or else that all of this will go to the leaders meeting tomorrow evening at 6 p.m. I cannot give any further update on the matter because officials from the Departments are in Europe at the moment.

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