Enda Kenny (Mayo, Fine Gael) | Oireachtas source

I answered the question on when the committee met. I chaired the meetings myself. I must say, for Deputy Martin's general information, that from January to the end of June, the number of meetings involving the diplomatic services, Ministers, Ministers of State and civil servants at many different levels ran to a couple of thousand. From my point of view, Ministers were really active, both here and in Brussels, at various meetings. It was just not feasible to have regular, set meetings of the Cabinet committee on EU affairs. I spoke to the Tánaiste daily. Ministers were involved in various elements of their negotiations. We were in very regular contact in that regard.

With regard to the decision to exit the programme on 15 December, there were three options: a precautionary credit line; a precautionary credit line involving the EU and IMF or the IMF; and no credit line at all. The Minister referred to the fact that Ireland would have to borrow approximately €10 billion next year, and that this would be considered. However, the answer to the Deputy's question is that no formal request was made for any precautionary credit line from a European point of view.

The background information relevant to exiting a programme is already on the websites of the ESM and the IMF. We did not make a formal request for an exit with a precautionary credit line. One does not have volumes of information about any of that. The background to the exit, in its various dimensions, is already published on those websites. We requested that the Minister for Finance go to Brussels, Frankfurt and Washington. The Tánaiste spoke to his counterparts and I spoke to mine. Putting all the information together, the Government made a very clear, straightforward and decisive decision to ensure certainty rather than a drift into uncertainty and consequent confusion. Stability is very important to government. Certainty is very important in our decision for Ireland and its people. The Deputy should bear in mind the background to these developments, including interest rates, buffers for the NTMA and the eurozone buffer of €500 billion. All of these things led to the Government's clear decision about what will happen when the programme ends on 15 December. The barrier will be removed and we will stand again as a full member of the eurozone, with the opportunities, constraints and securities that it offers. The decision is clear and straightforward and, I hope, very decisive, so there will be no confusion for anybody.

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