Tom Fleming (Kerry South, Independent)
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Question 76: To ask the Minister for Finance the steps he will take to obtain additional structural funds in view of the grant of one billion euros being made available to Greece due to austerity measures. [18056/11]

Michael Noonan (Limerick City, Fine Gael)
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The purpose of EU Regional/Cohesion policy is to reduce the significant economic, social and territorial disparities that still exist between Europe's regions. The budget for the 2007-2013 round is €347bn. Most of this budget is allocated for those countries and regions whose gross domestic product per capita is less than 75% of EU average (81.5% for convergence objective). The remainder is for all other countries and regions (16.5% for regional competitiveness and employment objective) and for cooperation across borders (2.5% for territorial cooperation objective). The overall budget and country allocation is agreed between the EU Commission and Member States in advance of the programming period. Ireland has been allocated in total €901m in Structural Funding for the 2007-13 Programming period with €750 million assigned to the Regional Competitiveness and Employment (RCE) Objective. Ireland's NSRF sets out the strategic context within which the €750m block of funding may be applied; the delivery is via three operational programmes, the National ESF Human Capital Investment OP and the Border Midland and Western and Southern and Eastern Regional ERDF OPs. The balance of €151m is for smaller Territorial Cooperation programmes including the PEACE III (Ireland/NI), INTERREG IVA (Ireland/NI and Western Scotland) and the Ireland Wales Programme.

It should be noted that annual indicative financial allocations are agreed with the Commission, expenditure has to be incurred, certified, verified and audited in accordance with complex EU eligibility and audit criteria. Therefore, there is a time lag between the allocation and drawdown of funding. However, Ireland's performance in drawing down its EU Structural Fund 2007-13 allocation is among the best in Europe.

I assume the Deputy is referring to a statement by President Barroso of the European Commission following a meeting with Greek Prime Minister Papandreou on 20th June which was reported in the media in the following days. President Barroso said that "if Greece can demonstrate that it is genuinely committed to the reform package agreed with the EU/IMF, we will accompany Greece on its journey back to growth". He went on to say that they discussed a more strategic use of the EU Structural Funds under Cohesion Policy to increase their rate of absorption and accelerate delivery. However, this would be done within their existing structural funds allocation. Therefore, there is no question of any additional structural funds allocation to Greece, just a potential acceleration of delivery of the funding.

I should also say that we are successfully implementing our programme of assistance from the EU/IMF. We have satisfied our programme commitments to date. The review of our programme in April found that we had met all our targets - on fiscal consolidation, financial sector reform, structural reform and structural fiscal reform.

Ireland is funded until well into 2013. Based on current projections and without going back to the market, in the meantime the State has access to sufficient funds for its needs well into the second half of 2013. This access is through the EU, bilateral and IMF funds along with our own resources. Our continued adherence to programme targets will ensure access to this funding.