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

I will be very brief. He issued a long statement detailing what happened and what is interesting is that they had no expectation of being ambushed by a deposit tax. He singles out Germany as having as significant influence on developments. He says that they were alone and that only Luxembourg spoke up in their favour. The Tánaiste may attack Deputy Boyd Barrett about deposits but the Irish Government agreed to a cut in deposits below €100,000 in the context of Cyprus. Why did we agree with that? Why did we issue a statement saying it was good for Cyprus, good for Ireland and good for Europe?

The head of the Eurogroup has said, backed up by anonymous Commission officials, that the ESM will not be used for the recapitalisation of banks. He wants to exclude the recapitalisation of banks from the remit of the ESM. What is the Irish position on that?

See this speech in context