Michael McGrath (Cork South Central, Fianna Fail)
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Question 62: To ask the Minister for Finance if he has held discussions with his ECOFIN colleagues on the possibility of the EU issuing Eurobonds; and if he will make a statement on the matter. [21062/12]

Michael Noonan (Limerick City, Fine Gael)
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In November of last year, the European Commission published a Green Paper on the feasibility of introducing Stability Bonds. The paper analyses the potential benefits and challenges of a number of approaches to common sovereign debt issuance among euro area Member States. While there are potentially significant benefits attached to common debt issuance, there are clearly differing views among the Member States at this point in time. These issues are evident from the discussions I have had with my ECOFIN colleagues.