Enda Kenny (Mayo, Fine Gael) | Oireachtas source

Deputy Adams is aware the country with the Presidency does not drive individual issues. In the case of the Middle East, it is constantly on the agenda of the European Council and the countries participating in the rotation of the Presidency. The High Representative, Catherine Ashton, makes the report to the Council and at whatever other meetings of the Foreign Ministers apply. The Tánaiste has been in attendance at a number of these meetings. The Presidency has a close working relationship with the Heads of Government and, as a consequence, with the High Representative. From that point of view, Deputy Adams can take it that the Tánaiste has already been involved in this insofar as the Council meetings are concerned. It is on the agenda and I will be happy to raise it at the next Heads of Government meeting as Presidency Chairman and as a member of the Council.

With regard to the decision of last year, the Minister for Finance made recommendations for the architecture of the single supervisory mechanism. The discussion started in the new year under the chairmanship of the Dutch Finance Minister at the Eurogroup and at ECOFIN by the Minister for Finance, Deputy Noonan. This morning, further progress was made on principles agreed but not yet delivered upon because of the requirement for the troika and each of the individual countries to accept them. We hope that it will be so and the Minister for Finance is working on that.

Discussions are ongoing in respect of the single supervisory mechanism leading to banking union, which will take place in 2014. I do not expect it to be concluded before then. Some of these matters are very complex, given the range of banks to be covered and the issues involved. The credit resolution directive, which was debated this morning on the basis of an Irish proposition, will be something that must be delivered upon by an enhanced majority. It affects the entire European area.

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