Tuesday, 21 February 2012
European Council Meetings
Enda Kenny (Taoiseach, Department of An Taoiseach; Mayo, Fine Gael)
It is not relevant to this discussion. Of course the ECB is absolutely central to the future of Europe. Mr. Draghi, as successor to Mr. Trichet, has made changes in the direction and remit of the ECB which have been very welcome in relieving pressure on banks by making unlimited amounts of low-interest moneys available to them. Deputy Martin and I have discussed the question of the adequacy of firewalls and the relationship between the ECB and the European Financial Stability Facility and European Stability Mechanism. These are matters for political discussion from here on, but they were not and are not part of the discussion in respect of the wording to be agreed or not agreed in respect of the fiscal compact. That is why they were not discussed.