Enda Kenny (Mayo, Fine Gael) | Oireachtas source

Let me repeat what I said for Deputy Martin. The decision taken by the European Council was made by the Heads of Government of the 27 countries. There was a very clear decision in two parts: first, to break the vicious circle between sovereign and bank debt and allow for bank recapitalisation; and second, to reflect on the capacity of Ireland to meet its debts and provide that equal treatment be given. These were the two decisions about the eurozone and Ireland. Those decisions stand.

Deputy Martin's point is that these decisions are not being followed up. Let me tell Deputy Martin about the extent of negotiations involving Department of Finance officials and their counterparts across the board. They have been intense. Deputy Martin will appreciate that following the decision of 29 June, yields have come down from above 11% to less than 5%. They fluctuate, as we know. The Minister for Finance has followed through directly with his counterparts as recently as two weeks ago in Paris, Rome and Berlin. He has spoken to other Ministers for finance at the informal meeting in Cyprus.

See this speech in context