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European Council: Statements (4 Jul 2012)

Micheál Martin: Does the Minister of State accept that the summit did not deal with the issue?

European Council: Statements (4 Jul 2012)

Micheál Martin: Not necessarily.

European Council: Statements (4 Jul 2012)

Micheál Martin: The ECB is-----

European Council: Statements (4 Jul 2012)

Micheál Martin: It has not. The crisis almost became a catastrophe last weekend because of successive failures to intervene decisively as the lender of last resort. There is opposition to the ECB becoming that lender-----

European Council: Statements (4 Jul 2012)

Micheál Martin: -----but we are replacing it with the ESM which does not have the firepower to fight a run on the bond market. Spain and Italy combined have a bond stock valued at €3 trillion. They must be kept in the market-----

European Council: Statements (4 Jul 2012)

Micheál Martin: -----or else everything will collapse. I accept the Minister of State's acknowledgement that the summit did not deal with the central driver of the crisis. I will ask a brief question before handing over to other Deputies. Does the Minister of State agree that allocating 1% of the overall European budget to the growth agenda is inadequate and that the tortuous mechanisms being devised via...

European Council: Statements (4 Jul 2012)

Micheál Martin: Did I say that?

European Council: Statements (4 Jul 2012)

Micheál Martin: No. That is what the Government has been suggesting for the past 12 months.

European Council: Statements (4 Jul 2012)

Micheál Martin: The Minister of State should avoid her partisan nonsense and answer the questions asked.

European Council: Statements (4 Jul 2012)

Micheál Martin: A growth pact.

European Council: Statements (4 Jul 2012)

Micheál Martin: The Minister of State should read the Taoiseach's comments in The Irish Times last Wednesday. He stated he wanted to get project bonds up and running.

European Council: Statements (4 Jul 2012)

Micheál Martin: I did not say that.

European Council: Statements (4 Jul 2012)

Micheál Martin: The Minister of State does not believe in the growth pact. What is she talking about?

European Council: Statements (4 Jul 2012)

Micheál Martin: There needs to be a transfer of surpluses.

European Council: Statements (4 Jul 2012)

Micheál Martin: The Minister of State is about the only one with that view.

European Council: Statements (4 Jul 2012)

Micheál Martin: What about the tax policies?

Written Answers — Tourism Promotion: Tourism Promotion (3 Jul 2012)

Micheál Martin: Question 103: To ask the Minister for Transport, Tourism and Sport if he has been invited to attend the Olympic Games in London; and if he will make a statement on the matter. [26511/12]

Written Answers — Croke Park Agreement: Croke Park Agreement (3 Jul 2012)

Micheál Martin: Question 297: To ask the Minister for Public Expenditure and Reform if he has met the social partners recently in connection with the Croke Park Agreement; and if he will make a statement on the matter. [30312/12]

Order of Business (3 Jul 2012)

Micheál Martin: Therefore, the board was abolished and nobody has been in charge for 15 months.

Order of Business (3 Jul 2012)

Micheál Martin: Will legislation be needed?

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