Enda Kenny (Mayo, Fine Gael)

-----in competence then the question of a treaty change does not arise. Such matters are always confirmed and assessed by the Attorney General of the day.

If one goes into the process of treaty change, as Deputy Adams is well aware, it means that all of the 27 countries of the Union might have their ideas about what they would like to see put in or taken out of the treaty. I note that other leaders commented about taking power back and making further adjustments to the treaties. Such a process involves intergovernmental conferences and the setting up of a convention to examine such matters. As I made clear to the German Chancellor, one must deal with the current problem with the facilities, tools and opportunities available in existing treaties to address the eurozone crisis which is of such catastrophic potential were it to get out of hand. It is clear that certain countries are in some difficulty with liquidity.

President Van Rompuy was mandated by the Heads of Government to produce a paper in December on the question of limited treaty change, and beyond that, with a roadmap. That paper will be produced for 9 December. Deputy Adams is aware of the public meetings that have taken place between various leaders and the outcome of those. It is clear that there is a broad range of views on how the problem should be tackled. As far as I and the Government are concerned, we would like to see the facilities and opportunities that form part of existing treaties applied to deal with this problem. It is clear that the decision taken at the previous meeting has not attracted the confidence of the markets so we have to move to a different position. The ultimate backstop to prevent contagion in all countries is the European Central Bank. It is clear that this country is vulnerable to volatility in this area, as are a number of other countries. I made that point clearly to the German Chancellor.

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