Robbie Gallagher (Fianna Fail)

Cuirim fáilte roimh an Aire go dtí an Teach. I welcome the Minister to the House and thank him for outlining in great detail and simple language what we are discussing this afternoon. The recast insolvency regulation has been with us for over 20 years. There have been various amendments made to it in the intervening years. It is important that companies that want to invest in the EU and globally know that, from an EU perspective, we are all singing from the same hymn sheet, if I can use that expression, as regards legal requirements and so on. This gives security to companies that wish to invest in any member state. It is important that the criteria we adopt in Ireland are similar to those in place in as many EU countries as possible. The proposal makes perfect sense. Speaking on behalf of the Fianna Fáil grouping, we very much support it. I look forward to ever increasing co-operation with our EU colleagues. From a business perspective, the world is now a small place. Companies are very mobile and agile, and it is important that investors have certainty.