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EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: That is a very different question.

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: This entire debate-----

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: -----is about the European summit this evening-----

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: -----about which the Deputy expressed great anxiety that we would not have an opportunity to discuss it next week.

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: The Deputy now has an opportunity to discuss it in the House and the answer is that Irish debt write-down is not on the table for tonight's European summit.

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: If the Deputy wants to ask the broader question as to whether the Irish Government is engaged in negotiations on the issue of debt sustainability for Ireland in a broader context, yes, it is a topic for discussion. The Minister for Finance, Deputy Noonan, has raised it with the President of the European Central Bank-----

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: -----and with bilateral partners-----

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: -----as has the Taoiseach. We are doing everything-----

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: The Government as a united force is doing everything in its power to try to negotiate a better, more sustainable deal for Ireland but if the Deputy is asking me, regarding the European summit this evening, whether we are trying to achieve private sector involvement in the same way the Greeks are doing, of course not because that would be extremely and extensively damaging to Irish banking-----

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: -----and to broader Irish economic interests.

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: The French banks have not been recapitalised to the same extent-----

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: -----Irish banks have been recapitalised.

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: Even after the anticipated-----

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: If the Deputy does not want me to answer the question I will sit down and he can keep on pontificating to the House.

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: Irish banks were recapitalised last March, as Deputy Martin is well aware.

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: You do not want to hear the answer.

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: On the issue of bank debt write-down, I again reiterate for the benefit of Deputy Martin who chose not to listen to me when I answered his question that it is not a topic for discussion at this evening's Council meeting. The Deputy is entitled to disagree with that. The reality is that the Greek Government is not seeking private sector involvement in its debt and does not want a write-down...

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: The global financial system is absolutely dependent on trust and confidence. We have worked very hard, particularly in the past six months. I also give credit to the late Brian Lenihan for some of the work he did to try to control public spending. I have always acknowledged that. I do not approach this in a mealy-mouthed fashion. However, we have done enormous work in the past six months...

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: There is no prospect of Greece re-entering the financial markets within the next ten years.

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: I was anxious to explain. The Deputy asked me about the Government's position so it is fair-----

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