Enda Kenny (Mayo, Fine Gael)

There will be statements later on the European Council meeting. There will be plenty of opportunity in the House to discuss the response by Government of the bringing forward of a stimulus package in respect of growth and investment, and the Minister for Public Expenditure and Reform, Deputy Howlin, will present that in due course here. There is much consideration and much work going on. Deputy Adams will be aware that both Deputy Howlin and the Minister for Finance, Deputy Noonan, had intensive discussions with the EIB only a few weeks ago in respect of blockages in the system for PPPs and the opportunity for further investment from the EIB in sustainable infrastructure projects. The Minister will bring in his proposal in that regard shortly.

The question I discussed with Chancellor Merkel was that fiscal discipline and growth are not two polar ends; they are compatible. If one has good housekeeping rules, which is what the fiscal stability treaty is about, and one puts these together with a growth and investment and stimulus plan, it would bring the most beneficial results for people in terms of investment for job opportunities and work. This will be the focus for meetings in future arising from discussions at the last Council meeting.

Let no one run away with the idea that there is a simplistic solution to what is involved. Deputy Adams should note that even if one had agreement with the majority of leaders on a particular strategy, the changes and the valuations required, and the processes and the legal systems involved in various countries are tortuous and complex. As someone who has been through the peace process here and who understands the way very sensitive negotiations, to which he was a party for many years, proceed, he will appreciate that it is not always possible to give the final result of all the words and issues spoken.

Anyway, my message in writing and to the individual leaders is that this issue must be dealt with by political leaders who must make political decisions in respect of dealing with this crisis. It is the right argument and the right discussion to be involved in with regard to the separation of sovereign debt from bank debt.

I note Deputy Adams's comments about the burdens here. He could do his bit when he leaves the Chamber today by announcing that the his legal team will not accept any fees for the stunt he pulled down at the High Court as a matter of public interest.

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