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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-----

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: That was the second part and I will come to that. However, the Deputy asked me about the Government's position regarding PSI for Ireland, in other words, write-down of Irish debt. I believe I am entitled to give my view on the background to that and why the Government is so insistent that we meet our targets and benefit from or take advantage of the fact that we have now emerged from...

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: The people who want mortgages or to start businesses.

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: The Deputy is deliberately trying to misconstrue what I am saying.

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: My statement?

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: The Deputy is trying to suggest that we are somehow enjoying the fact that we are in an IMF programme and that it ought to be the Government's objective to remain in an IMF programme, where we essentially do not have control over our economic destiny or the parameters of our annual budget. That is preposterous position to put forward. The issue with Greece is not that it will not pay but...

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: If we stick to the commitments we have already signed up to and if we focus our efforts on growth, investment and creating an environment-----

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: -----for the Irish economy to grow, we can meet our targets and deficit objectives and we can emerge from this crisis. That is the position.

EU Summits: Statements (26 Oct 2011)

Lucinda Creighton: There is inward investment from a range of global multinational companies-----

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