Enda Kenny (Mayo, Fine Gael) | Oireachtas source

In all of the comments Mr. Barroso has made in my listening to him at many meetings he has always been careful to distinguish between the role, responsibilities and policies of various countries. He has always singled out this country as a small country making headway in difficult times. His understanding of Ireland's position in so far as other countries are concerned with regard to membership of NATO and their views on the bigger issues of military connections throughout the world is very clear. With regard to these discussions, Deputy Higgins is aware that we receive emergency liquidity on an almost weekly basis and this cannot be translated into long-term finance. This is an issue for serious consideration by the Minister for Finance and his officials and others. What happened as referred to was a seismic shift because very few people who think they know all these things will have contemplated that the Heads of Government at European Council level would make a decision to break the link between sovereign and bank debt.

All of those who comment on these things never foresaw that this country would be written into the decision. The reason for that was, in part, because of the decision made by the Irish people, which the Deputy opposed, in respect of the fiscal stability treaty that strengthened the hand of our country and our negotiators in building trust with our colleagues and in having the support, which I outlined to Deputy Martin, of so many influential leaders and so many persons involved in positions of influence to deal with our particular problem. Our problem, of course, is that when the decision was made a number of years ago, we were burdened, unprecedentedly for a country in Europe, with a savage imposition and it is that problem which we need to deal with and why it is in the decision of 29 June. That is why it was a seismic shift for European countries and why the requirement of Italy to roll over billions every month and why the issues being debated and considered in respect of Spain and its enormous economy have a direct impact on Ireland.

Let me repeat that the thrust of the questions asked was, what are we doing about it? Our intention is focused on getting the best and maximum deal for our people and our country and while I would like to think it might be able to be adhered to by the end of October, frankly, I do not think that will be kept. My priority is to get the very best deal for our people, which I am sure Deputy Higgins will welcome when it is concluded.

From that point of view, these discussions will continue this weekend when I meet with a number of leaders, as I outlined to other Deputies, and apace with the officials from the Department of Finance and their counterparts in quite a number of countries. The goodwill and the support is there politically. It is there from the influencers in the Commission and the European Central Bank. Translating that goodwill into reality for our people is our focus and that is where we will continue to keep our priority.

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