Bernard Durkan (Kildare North, Fine Gael)
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Question 89: To ask the Minister for Finance if he is satisfied that, in the context of his discussions with his EU colleagues, it has been sufficiently recognised that this country's economic difficulties should not be undermined by any action taken by the ECB, IMF or other jurisdictions left exposed or less open economies; and if he will make a statement on the matter. [10276/12]

Michael Noonan (Limerick City, Fine Gael)
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At present, this country is in receipt of a significant level of financial support from our fellow EU Member States – who are either providing us with bilateral loans directly or are facilitating our financing at favourable interest rates – as well as from the IMF. The ECB is also providing significant liquidity support to the Irish banking system. There is widespread recognition amongst our fellow EU Member States that we are in a difficult situation but there is widespread recognition too of the fact that we are dealing with these difficulties and are making progress. We are very grateful for the support we have received. It affords us the necessary breathing space, and access to secure funding at favourable interest rates we need in order to restore sustainability to our public finances, repair our banking system and return to sustainable economic growth.

Notwithstanding this support, we are anxious to regain our economic and financial sovereignty, to return to the international financial markets to source our funding and to end our reliance on Programme funding. That is the ultimate aim of the EU/IMF Programme and I am sure that it is what those who are providing us with financial support at this time want to see also.