Dáil debates

Wednesday, 30 November 2011

10:30 am

Photo of Enda KennyEnda Kenny (Mayo, Fine Gael)

It is true that the Deputy wrote to me a couple of weeks back but it was not just to request a meeting to discuss this. He wanted it so that I could be given a mandate from leaders of the Opposition to go to Europe. I made the point to him in my response that the two parties opposite are diametrically opposed in respect of their views on Europe. Fine Gael and the Labour Party have a clear view about Europe, which Fianna Fáil shares but which the other party does not share. There is no point having a meeting where clearly diametrically opposed political views are expected to give me a mandate according to the Deputy's letter. I explained that in my response; I did not turn down the request point blank. I pointed out the complete daftness of looking for a mandate or a recommendation from his party and from Sinn Féin when they are diametrically opposed on this.

I expect to speak to President van Rompuy who was mandated at the last Council meeting to produce a programme and proposals for the road map for the time ahead. That is to be produced on 9 December. I understand leaders in France and Germany are about to make pretty major speeches but we have had all the speculation, endless comment and endless commentary from economists, bankers and those on the sidelines who do not have to make the decision here. The Deputy will understand that this is now a crisis in the eurozone, as I pointed out previously. A decision of the last meeting was that the EFSF should have two vehicles available to it to ratchet up funding to provide this credible backstop and firewall of more than €1 trillion. That lost the confidence of the markets. Has anybody out there the answer to this problem and question which now needs to be addressed? I have set out on many occasions that the ECB is the port of call of infinite firewall capability to prevent all that contagion. Some countries oppose that for strong reasons. In my view, the answer to this problem has to lie with the support of the ECB in whatever form, be it through the EFSF, IMF or some facility in that regard but it has got to be dealt with quickly.

We had the discussion about the position on treaty change. Even if all the countries were to agree, which they would not, of course, one cannot deal with this crisis by that method before Christmas.

Comments

No comments

Log in or join to post a public comment.