Seán Ó Fearghaíl (Kildare South, Fianna Fail)

I avail of the opportunity to commend the Government for what was a successful outcome to last week's summit in the aftermath of so many unsuccessful summits. Does the Minster of State agree that the arrival at the negotiating table of François Hollande and Mario Monti has changed the dynamic positively?

The communiqué commits the Commission to examining the Irish financial sector with a view to further improving sustainability. When can we expect that examination to commence and what will be its nature? A single supervisory examiner is to be established and a report produced by the end of the year. What is the envisaged timescale for that regulatory system to be up and running? Given the case made for that regulatory system and the move towards fiscal and monetary union, what are the implications in terms of further treaty change?

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