Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

Yesterday, President Barroso publicly re-affirmed the Commission's commitment and understanding of the commitment of the 27 Heads of State and Government to that which was agreed and expressed in the communiqué of 29 June 2012. I agree with the Deputy that the promissory note is a complex piece of financial structuring and restructuring it is also complex. Many issues arise but we will work our way through it. The context for negotiation, as in all these matters, is the troika. Of course, the ECB is also independent in the exercise of its functions. For example, I went to Frankfurt and had direct conversations with Mario Draghi some time ago. I also said in reply to an earlier question that I had met with the relevant finance ministers of Paris, Rome and Berlin quite recently. Both issues were the topic of discussions there.

The next ECOFIN and euro group meeting is on Monday and Tuesday in Luxembourg, as is customary for the month of October. There will not be a specific agenda item referring to these matters for Ireland but, of course, I will take the opportunity on the margins of that meeting to engage with various colleagues to whom it would be in our interest to advance the case.

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