Enda Kenny (Mayo, Fine Gael) | Oireachtas source

No, it is not. The German Chancellor agreed with and was very supportive of the European Council decision on 29 June. The commitment by the Heads of State and Government on 29 June stated: "to examine the situation of the Irish financial sector with a view to enhancing the sustainability of the well-performing programme". As I said to Deputy Martin, the focus of the discussions that have been and are taking place here and the focus of the political interaction that has taken and will take place are on how best we can restructure and re-engineer the level of debt placed on the Irish taxpayer and get the maximum benefit and result from that in the interest of the country's people. Those discussions centre around how best that can be done.

I have read comments and seen speculation about what is under discussion. I do not deal in speculation, to be frank with Deputy Higgins. I much prefer to have clarity about results that are in our people's interests. It is true to say a range of issues and proposals have been and are being considered as to how best that level of debt should be re-engineered and restructured.

In so far as the Heads of Government are concerned, everyone signed off on that agreement. Many people thought that comment or statement by the Heads of Government could never be achieved. We now have to build on that. As I pointed out to other Deputies, meetings have taken place at an intensive level between Department of Finance officials and their counterparts in a range of European capitals. When I meet Prime Minister Monti, President Hollande and a number of other leaders this weekend - details of meetings are being finalised - this obviously will be a focus of our talks at Heads of Government level. What we are interested in, as I am sure Deputy Higgins is as well, is getting the best deal possible for our people. That has been and will be the continuing focus of our discussions and negotiations.

There is strong political support for implementing this decision of the Council. I would like to think it would be implemented as soon as possible in everybody's interest, but it is to get the best result for everybody.

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