Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I am not sure on what evidence the Deputy can conclude that I am in any way delaying on this issue. In terms of relevant timeframes, it has previously been the case that when a member state has co-operated in good faith with an understanding or direction from the Commission, the Commission will actively engage with the member state for at least two years before initiating proceedings in that regard. The Government sought an extension from the Commission to deal with this matter but it was not granted. One reason the negotiations are so sensitive is because of the amount of money involved. When the fund is set up, as it will be, it will be one of the largest of its kind in the world. The fine is the largest of its kind that a government or company has had to deal with. Because of the complexity of the matter and because the Commission has indicated that other jurisdictions might be able to access the money in the future, before the money can be received we must have a very comprehensive agreement in place in respect of the operation of the escrow account. To have the fund set up, the Government had to go through several procurement processes to ensure compliance with European Union law. That has all taken time and that is the reason I regret the action taken by the European Commission on the issue.

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