Bernard Durkan (Kildare North, Fine Gael)
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Question 73: To ask the Minister for Finance the extent to which he has had discussions with his EU counterparts with a view to addressing the ongoing banking issues with particular reference to restoration of confidence and the identification and elimination of practices expected to create or cause instability; and if he will make a statement on the matter. [31536/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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EU Finance Ministers have adopted an extensive roadmap of actions incorporating a work programme aimed at putting in place a comprehensive response to developments in financial markets. This programme includes reviewing along with the EU's international partners how to further improve transparency of complex financial instruments, valuation standards, the prudential framework, risk management and supervision and market functioning including the role of ratings agencies. Ireland is participating fully in this work at EU level to ensure there is an effective EU-wide system to maintain financial stability, taking into account the important cross-border linkages that now exist in EU financial markets.