Enda Kenny (Mayo, Fine Gael) | Oireachtas source

That is what it has always espoused. The vast majority of cases put forward by Sinn Féin do not stand up to any scrutiny. I do not accept the premise of Deputy McDonald's question.

We are going to continue the process we have been engaged in since the decision of 29 June - that is, to bring about implementation of the decision of the Heads of Government. Let me reaffirm to Deputy McDonald, as I did to Deputy Martin, that discussion and negotiation by officials from the Department of Finance and directly between the Minister for Finance and his counterparts, face to face, are ongoing. We have made substantial progress with regard to the promissory note, which is a very technical and complex issue to resolve because the deal done requires the country to pay more than €3 billion per year for ten years.

The strategy now is to continue to work to implement the decision of the European Council. If Deputy McDonald cannot see that this is clear, I will repeat the words of the summit statement: "We affirm that it is imperative to break the vicious circle between banks and sovereigns." Let me assure Deputy McDonald that this was and is a seismic shift compared to what applied in Europe before. This was never done before. It was contemplated but never enacted.

It was not only talked about on 29 June in Brussels; it was decided. It was decided, not by commentators or Ministers, but by the Heads of Government. I would remind Deputy McDonald that all Ministers for Finance are equal when they sit around that table.

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