Stability and Growth Pact.

Dáil Éireann Debate, Thursday - 29 April 2010

Thursday, 29 April 2010

Ceisteanna (98)

Aengus Ó Snodaigh

Ceist:

98 Deputy Aengus Ó Snodaigh asked the Minister for Finance the discussions he has had with the German Chancellor or her officials or with the representatives of the other EU member states or institutions regarding her proposal to have an expulsion clause inserted into the Stability and Growth Pact to evict countries in the eurozone who persistently fail to meet the criteria set for public spending, country deficits and other breaches of the rules; and if he will make a statement on the matter. [13294/10]

Freagraí scríofa

Minister for Finance (Deputy Brian Lenihan)

I assume that the Question relates to policy issues raised by individual Member States in follow-up discussions arising out of the statements of the Heads of State and Government on 11 February 2010 and 25 March 2010, and of the Eurogroup on 11 April 2010, on the taking of measures, if needed, to support the financial stability of the euro area, in the context of the difficulties being experienced by Greece.

As the Deputy will appreciate these matters are hugely sensitive and one that must be treated delicately least markets react unfavourably to speculative comment. Currently, the eurozone member states are working together to support the overall financial stability of the eurozone in light of the present difficulties of one member. It would not be appropriate to comment on any particular aspect of ongoing informal discussions.