Dáil debates

Tuesday, 12 June 2012

3:00 pm

Photo of Enda KennyEnda Kenny (Mayo, Fine Gael)

-----and this is the legacy which this Government is trying to break. Actually, we are one of the first governments to put forward the proposition that the ESM should be licensed to put money directly into banks. This was indicated by the Minister for Finance, Deputy Noonan, in respect of the Spanish situation, when he participated in the conference held last weekend.

I will make three points to Deputy Martin. First, this country is saddled with the legacy of the greatest economic disaster ever perpetrated on the Irish people and Deputy Martin was the Minister for Foreign Affairs at the time. It ill behoves him now to talk about the negotiations being carried on by other people. Second, last weekend I wrote to every leader of European governments and I set out a view very clearly that this is a European problem which requires a European solution.

I note that Dr. Alan Ahearne, the special adviser to the late Minister for Finance, now realises that the deal was the wrong deal and that the sovereign should have been broken from the banks, which this Government has set out very clearly as being the way to go. I also note that Commissioner Rehn in his comments yesterday said that the Irish negotiations are progressing, that he and the Commission will support this situation being brought to a conclusion and that Ireland deserves support and assistance with the difficulties it inherited from the Deputy's lot on that side of the House. That is what we will continue to do.

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