Bernard Durkan (Kildare North, Fine Gael)
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Question 253: To ask the Minister for Finance the extent to which he continues to exhort his EU colleagues to maintain a unified and supportive approach to fiscal and economic issues in the future thereby preventing any recurrences of the past number of years; and if he will make a statement on the matter. [19538/12]

Michael Noonan (Limerick City, Fine Gael)
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My Eurogroup colleagues and I are acutely aware of the need for Member Sates to remain on the agreed fiscal path. We are also conscious of the institutional deficiencies that played a significant part in creating the crisis, and I think its fair to say that substantial progress has been made in terms of retro-fitting the necessary tools and mechanisms to make the monetary union function better. We also have a shared understanding regarding the need to vigorously implement the 'five-point' strategy agreed at European level last year, so that we continue to build on the positive momentum that became evident in the first quarter of this year.