Enda Kenny (Mayo, Fine Gael)

What we agreed to here was the facility made available in respect of the flexibility provided by the EFSF and that is the facility by which this issue can be pursued. As has been pointed out on a number of occasions by the Minister for Finance, were the Anglo Irish Bank position to be captured by the EFSF and dealt with in Ireland over a longer maturity period with a lower interest rate, the savings that would accrue to the taxpayer would be substantial. The facility agreed to last Sunday will allow that to happen. In a situation where we are not in control of our economic sovereignty, it is critical that the conditions we have signed up to and those we have renegotiated and changed be adhered to. While the economic turmoil and confusion are challenging and difficult for the people, it is the longer term picture of employment, getting out of the bailout and restoring our economic sovereignty which is at stake. Obviously, I do not speak for bond investors on the decisions they make. However, the flexibility allowed for will, with the continued support of our colleagues, help us through this difficult period. I know we will get through it with our reputation and integrity intact which will in itself attract future and continued investment and support from our eurozone colleagues.

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