Lucinda Creighton (Dublin South East, Fine Gael)

Clearly, it did not deal with it, as it was not agreed to in the conclusions. There are different opinions. As a former Minister for Foreign Affairs and having sat at the Cabinet table for 14 years, the Deputy is well aware that the European decision making process is consensual. While our vision for the ESM is more ambitious than that agreed to date, we must bring other member states with us. Some member states, specifically the creditor countries, have considerable reservations about enhancing the ESM's role. However, that is not to say that what was agreed is not significant. The reference to the potential for the ESM to intervene in secondary markets is significant.

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