Terry Leyden (Fianna Fail)

I thank the Leader for giving us an opportunity for a timely debate on this matter. It is tremendous when the House can react so quickly on an issue. I also thank the Minister of State for coming before the House.

I was interested in the Minister of State's comment that "The level of interbank interest rates is a matter for the European Central Bank, which is entirely independent of any Government in relation to its monetary policy activities". If this information was circulated to Gordon Brown, Tony Blair and the UK electorate, it would not encourage them to join the eurozone. The British Government has total fiscal control at present.