Dara Murphy (Cork North Central, Fine Gael) | Oireachtas source

We have seen significantly more money returned to the Exchequer for Bank of Ireland than was put in. The State is a significant owner of AIB and Permanent TSB, and choices will be made on our options.

The Deputy is correct about the specifics of afforestation and climate mitigation. The detail of the overarching targets will be discussed over the period coming up to the international conference in Paris at the end of 2015, but the overarching targets for the European Union as a whole have been set at a 40% reduction in greenhouse gas emissions. The objective is that Europe show leadership for other parts of the planet in having a clear target. There have been discussions, but the specifics for any country with respect to afforestation and mitigation have not been decided.

Europe is now at level II sanctions against Russia with respect to the conflict in Ukraine. A decision was taken on increasing or reducing the level of sanction at the last Council meeting and a holding pattern was decided on. It is undeniable that Russia has retaliated with sanctions against the European Union and holds a variety of reciprocal sanctions, including those mentioned by Deputy Martin.

With regard to the use of the term "stark", we saw in the figures published over the past days that European growth is exceptionally flat. Youth unemployment continues to be very difficult for the Union as a whole, and my understanding is that, given the focus on the economy and the package of €300 billion introduced by President Junker at the next Council meeting in December, the President was marking out the urgency of the situation with respect to unemployment, growth and investment. That is an iteration of the current position, and its starkness was what the Taoiseach was referring to.

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