Lucinda Creighton (Dublin South East, Fine Gael)

-----and we would have a much more sustainable position with the result that the crisis in Ireland, probably, could have been averted. The Government and I are strong supporters and proponents of the European semester and we are already co-operating with that mechanism. The first review was at a Council meeting in September but I can clarify that.

Deputy Donnelly asked about fiscal consolidation and the creation of a European superstate. It is nobody's objective to create a European superstate and I do not believe it is the objective of the vast majority, if any, of the member states. There is a need for greater fiscal co-ordination and that is already happening. It is clear from the conclusions which have emerged from previous European Council meetings and the detail which has emerged from ECOFIN and the finance Ministers meetings at eurozone level that there is greater fiscal co-ordination. We support that and it is in our interest and in the interest of the proper functioning of the eurozone. I do not see that as a cause for concern or that automatically can lead to the assumption that everybody wants to create a European superstate because that is not the position.

From an Irish point of view, when we get into this type of discussion a certain concern is always raised on the issue of corporation tax. Perhaps that was at the back of the Deputy's mind when he asked that question. Our position is clear. The new Government, from March onwards, took a strong and robust position on defending our corporate tax rate. I believe our position has been vindicated and many European partners recognise that. It was never under attack.

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