Billy Timmins (Wicklow, Fine Gael)
Link to this: Individually | In context

Question 148: To ask the Minister for Finance the discussions he has had with his European counterparts in respect of the European Union leaders summit next month to assess proposals for strengthening the eurozone's economic governance with a view to averting a sovereign debt disaster that might destabilise the global financial system; his views on whether the proposed reforms will be a radical step closer towards a full fiscal union, such as operates in the US and other countries with a federal political system; and if he will make a statement on the matter. [22828/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
Link to this: Individually | In context

The European Council has taken a number of steps in recent weeks and months to safeguard the financial stability of the euro area. However there is a broad understanding that economic governance within the euro area needs to be improved. To this end, the President of the European Council Herman Van Rompuy has established a Task Force to look more closely at reform. The Task Force – of which I am a member – has met once already and is set to look four main issues: a crisis resolution mechanism for the euro area, addressing macroeconomic imbalances, reinforcing the Stability and Growth Pact, and budgetary coordination. Ministers discussed all issues and the general view was that all avenues for improvements that could be advanced quickly should be the focus of their work. The Task Force will meet next week and the President intends to provide an interim report to the European Council in June. A final report will be made to the European Council in October.