Terence Flanagan (Dublin North East, Independent)
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50. To ask the Minister for Finance the major issues he raised with euro area Finance Ministers when he reviewed other countries budgets last year; and if he will make a statement on the matter. [26513/14]

Michael Noonan (Limerick City, Fine Gael)
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Member States subject to a macroeconomic adjustment programme are exempt from submitting a Draft Budgetary Plan (DBP). Cyprus, Greece, Portugal and Ireland did not have to present a DBP, as the surveillance took place in the context of the programme. Therefore the assessment of the euro area was based on the 13 Member States that submitted DBPs. In the case of Austria, Germany and Luxembourg, DBPs were submitted by outgoing governments and on a no-policy change basis. Ministers carefully scrutinised and discussed each other's Draft Budgetary Plans. It was agreed that the fiscal plans for 2014 were broadly appropriate. The Eurogroup welcomed the fact that no draft budgetary plan was found  to be in serious non-compliance with the obligations of the SGP and that consequently no resubmission of a DBP would be requested by the Commission. I agreed with my colleagues on this conclusion. The Eurogroup concluded that fiscal consolidation efforts are delivering results and that the euro area is making its way out of the crisis. The euro area's government debt level is expected to stabilise in 2014 and the deficit is planned to fall below 3 per cent of GDP.