Enda Kenny (Mayo, Fine Gael) | Oireachtas source

Nor did the Minister for Finance bring a recommendation to the Government that we seek a €10 billion credit line. It was not a case of the Minister changing his mind at all. The time had come to make a decision, based on an exit date of 15 December. The Government stated it would make its decision before that date. Make your mind up time had arrived. The Government was very clear. We said that, on the basis of all the evidence, including independent reports and independent commentary that was favourable, as well as on the basis of all that had been achieved through the decisions taken by the Government and with the people, it was the right time to make the decision and that this was the right decision for the country, rather than leave confusion.

As the Minister pointed out, if precautionary lines were used, they last for 12 months with the possibility of an extension and a second extension plus the European response to bank stress tests being carried out in the autumn of next year. One does not know the answers to all these things yet.

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