Enda Kenny (Mayo, Fine Gael) | Oireachtas source

We always live up to our obligations. Week after week for a long time Members raised in this House the issue of the promissory note and the requirement to pay €3.1 billion per annum for ten years to Anglo Irish Bank. The Government in its negotiations through the Department of Finance and the Central Bank with the European Central Bank arrived at a position whereby this has been moved out to 2038. We do not now hear any comment about the €3.1 billion that was required to be borrowed and paid each year in respect of Anglo Irish Bank. The court handed down its 68-page judgment in this regard today, which is in favour of the State.

Acceptance by the ECB of Ireland's position has improved our position and has allowed for further assistance in respect of the reduction of the interest rates and the extension of the loan term. I am sure the Deputy is aware of the independently verified figures from the Central Statistics Office today which indicate that 58,000 jobs have been created in the past 12 months and that the unemployment rate has decreased to below 13%, which is significant and is a sign of confidence in different sectors of the economy. It is hoped this can be improved upon in 2014.

The Government will be opposing the Private Members' motion this evening. We propose to continue to grow our economy and to provide opportunities and jobs for the people. The Deputy knows as well as I that at the end of the day what the Irish people need are opportunities for employment. The Government will continue to meet its obligations in this regard.

The decision of 29 June last year in respect of the ESM stands. It is a matter that will be negotiated through banking union, supervision, the capital requirements directive and as part of the wider agenda.

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