Enda Kenny (Mayo, Fine Gael)

-----in Iran with President Obama. As to the Deputy's comments about what the President has stated about eurozone leaders, we discussed Europe, the eurozone and Ireland's position therein. I explained to the President the progress Ireland had made by being removed very much from the platform where we were placed with Greece last year, from where we are now heading in a very different direction. I referred to the fact that unit labour costs had decreased with competitiveness being enhanced as a consequence, and stated the Government had been able to renegotiate elements of the memorandum of understanding with the troika and that the challenge for Ireland lay in getting further assistance and concessions in respect of the scale of bank debt we face.

I am not sure what the Deputy's question was about in regard to the Spanish bailout. The Spanish Government made a request for assistance which was answered with €100 billion from the EFSF for Spanish bank debt. This means that the sovereign Government of Spain underwrites that sum, pays back the loan at the same interest rate as anybody else and in respect of funding its own deficit it continues to borrow on the international markets at in excess of 6%. The Prime Minister has made many comments stating the country expects to be able to deal with that.

In regard to the Deputy's question about whether it is appropriate to share a platform with any individual, I do not invite participants to any event I attend. For all those who were in attendance at the function to which the Deputy referred and at the bell-ringing at the New York Stock Exchange, invitations were extended by the NYSE and the representatives of Ireland Inc.

In regard to the question about the Siteserv position, I point out to Deputy Boyd Barrett that the Competition Authority looked at that merger to see if there were any anti-competitive practices contained therein and it made its decision approving that merger independently, as is its function and responsibility.

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