Dáil Éireann Debate, Tuesday - 7 July 2015
108. Deputy Micheál Martin asked the Minister for Finance his plans to deal with the volatility in the market following the Greek Government's announcement to hold a referendum; and if he will make a statement on the matter. [27067/15]
Amharc ar fhreagraFinancial market developments in the euro area (outside of Greece) have been relatively calm in recent days despite the announcement of the Greek referendum and the subsequent results on Sunday.
While some Member States initially experienced some widening of bond yields, this was relatively small and suggests that the firewalls created and the governance changes made during the crisis are having the desired effect.
Nonetheless, the ECB is monitoring the financial stability of the euro area closely and stands ready to use all available instruments to ensure the stability of the euro area as a whole.
Having said that, I hope that the Greek Government will continue to engage in discussions with other Member States in an effort to provide certainty for the Greek people and put the economy back on a stable path. Ireland will continue to engage in an effort to reach a successful conclusion to any negotiations.
