Catherine Murphy (Kildare North, Independent)
Link to this: Individually | In context

Question 158: To ask the Minister for Finance if he has been involved in any discussions with his ECOFIN colleagues on changes to the membership and or structure of the eurozone; if his attention has been drawn to any discussions between members of the European Council and the Taoiseach regarding same; and if he will make a statement on the matter. [34799/11]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context

I have not engaged in discussions regarding changes in euro area membership with my Ecofin colleagues. We are, of course, in the process of improving the institutional arrangements within the euro area, to ensure that the current problems do arise again in the future. I am also aware of comments attributed to some Member States in relation to membership of the euro area. However, I note that over the weekend there was clarification from Germany and France that they are not proposing any breakup of the euro area. Instead, they are talking about making the euro area work better. Any measures that can achieve this are to be welcomed.

Catherine Murphy (Kildare North, Independent)
Link to this: Individually | In context

Question 159: To ask the Minister for Finance if he has made any contingency plans in the event that Ireland either decides to leave the eurozone or is instructed to do so; if so, the details contained in this plan; the dialogue if any, he has had with his European counterparts in the context of recent reports that the French and German Governments are considering radical structural changes to the eurozone; and if he will make a statement on the matter. [34801/11]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context

Our focus is on improving the functioning of the euro - it is our future. There are many risks in the broad economic environment at present, which I must take into account in conjunction with my Department and the agencies that report to me. The euro is a firm and solid currency currently trading well against all the other major currencies. There is clearly no market expectation, and there is certainly no Irish Government expectation, of any collapse in the euro.

In terms of structural changes to the euro area, I note that over the weekend there was clarification from Germany and France that they are not proposing any breakup of the euro area. Instead, they are talking about making the euro area work better. Any measures that can achieve this are to be welcomed.