Dáil Éireann Debate, Wednesday - 5 October 2011
85 Deputy Bernard J. Durkan asked the Minister for Finance the extent to which he and his EU colleagues have identified the full extent of the requirement to stabilise the eurozone countries, with particular reference to the need for restoration of confidence; and if he will make a statement on the matter. [27893/11]
View answer87 Deputy Bernard J. Durkan asked the Minister for Finance when it is expected that a unified approach to the debt crisis throughout the eurozone can be achieved; and if he will make a statement on the matter. [27896/11]
View answerI propose to take Questions Nos. 85 and 87 together.
A unified approach to the crisis was evident in July of this year, when euro area Heads of State or Government reaffirmed their commitment to do whatever is needed to ensure the financial stability of the euro area as a whole and its Member States.
The measures announced are indeed significant, and include a new programme for Greece, improved terms and conditions for financial assistance to Member States experiencing difficulties, increased flexibility of the EFSF, and a commitment to further enhancing economic governance in the euro area.
Of course, implementation of the agreed outcome takes time, and since then the situation continues to be one of nervousness and uncertainty. But the reforms in train are significant and I believe that once the situation normalises, a stronger, more integrated euro area will emerge.
