Enda Kenny (Mayo, Fine Gael) | Oireachtas source

I forgot to say to Deputy Adams that it was the European Commissioner, Olli Rehn, who said it was his hope that there would be a conclusion to the process by the end of October. Deputy Adams will recall in answers to himself and other Members that I said this was unlikely to be achieved, given the scale and the nature of the negotiations that would have to take place. We have always said the process of negotiation from Ireland’s perspective is to attempt to get the best possible deal for our taxpayers and people. That is the position that stands.

The reason this process has to be gone through is that the situation is unfair on the Irish taxpayer and people. As I pointed out the other day, Ireland’s banks have been recapitalised. Ireland was first out of the blocks to have that position imposed upon us. Because of the panic and desperation of the previous Administration, the blanket guarantee was applied in the way it was.

Deputy Adams will have read the conclusions of the summit decision on 29 June. They are very clear. He will have read the decisions of last Thursday and Friday, which are equally clear. They put flesh on the principle adopted in June of setting out the legal framework for the conditions, modalities, the mechanics and the organisation of how this will apply. With over 6,000 banks involved, it is a process that cannot be taken lightly for very good reason.

From Ireland’s perspective, I welcome the joint statement from the German Chancellor-----

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