Enda Kenny (Mayo, Fine Gael) | Oireachtas source

-----the negotiations which have taken place at a European level have resulted in the acceptance by the European Central Bank of Ireland's programme, which will save the country €20 billion in borrowing over the next ten years. The negotiations at European level have also resulted in the drop in interest rates for the country from over 14% to less than 4%. We have also seen the ending of the bank guarantee and the sale of Irish Life. The international economy is seeing Ireland as having credibility and integrity.

The problem and challenge for everybody is that although growth figures are positive this year compared to many other European countries, they still do not have the impact I would like to see on the local economy. The private sector is now returning 1,000 new jobs every month but the Government has taken a range of decisions to help small and medium enterprises by changing the structures of the banks and requiring new lending targets for each of the pillar banks of €4 billion this year.

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