Micheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

On the single supervisory mechanism, would the Tánaiste accept it is a major disappointment that 98% of banks were, in essence, excluded? Does he accept the other key elements of the banking union have been undermined by this decision? A deposit guarantee scheme and a failed bank resolution mechanism have both been undermined by this decision. There is huge resistance within Europe, particularly from the German perspective, to any real banking union that has teeth and the scale to cover the 6,000 banks.

Could the Tánaiste confirm that he has not attended any meetings with the ECB on the renegotiation of the promissory note? Does he accept the basic principle that a host country does not use the Presidency to pursue its own agenda and does he accept the European Council does not have jurisdiction over the European Central Bank? Could he explain then how Ireland, as co-chair of the Council, can influence the ECB, given the Council has no jurisdiction over the ECB in terms of the resolution of the promissory note issue? How will we use the EU Presidency to advance negotiations with the ECB?

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