Enda Kenny (Mayo, Fine Gael)

Just last week, Deputy Adams remarked that we should tell the EU to get lost and to keep its money. The first line of the communiqué states that we affirm it is imperative to break the vicious circle between banks and sovereigns. That is a principle that was not accepted when this country got into trouble a number of years ago. I am glad that decision has now been made and agreed.

I also want the Deputy to understand this is not just €10 billion. The conclusions state that the EIB's paid-in capital is to increase by €10 billion with the aim of strengthening its capital basis, allowing it to increase its lending capacity by €60 billion and, thus, to unlock €180 billion of additional investment, spread across the European Union, including in the most vulnerable countries.

That is there for a specific reason. Countries with a higher than average European rate of youth unemployment will be able to draw down more of this depending on the creativity and the range of what they offer. It is not a case of the Government producing a specific proposal for youth unemployment, we have that across a range of areas and will continue to drive that with our colleagues in Europe based on the recognition of the decisions made last week that countries that are vulnerable deserve to have access to greater funds that are now available. From that point of view I will be happy to have any constructive suggestions he has beyond what we have on the table in respect of young people and the opportunities for them to have work here.

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