Dáil Éireann - Volume 666 - 05 November, 2008

Written Answers. - Financial Institutions Support Scheme.

Deputy Terence Flanagan Deputy Terence Flanagan

Deputy Terence Flanagan asked the Minister for Foreign Affairs the reaction at European level to the scheme here to guarantee financial institutions; and if he will make a statement on the matter. [38498/08]

Deputy Thomas P. Broughan Deputy Thomas P. Broughan

Deputy Thomas P. Broughan asked the Minister for Foreign Affairs if officers in his Department have held meetings with representatives of other countries in which Irish banks are active giving details of the Government’s support or otherwise for Irish banks in their markets; and the regularity of such meetings over the past number of weeks. [38395/08]

Deputy Micheál Martin Deputy Micheál Martin

  Deputy Micheál Martin: I propose to take Questions Nos. 132 and 154 together.

Officials from my Department and the Department of Finance have been in communication with our European partners and the European Commission over the economic and financial situation. Our Embassies in EU countries have briefed our partners on the Government’s bank guarantee scheme. The Minister for Finance met with Commissioner Kroes to discuss the scheme and there were comprehensive discussions with the Commissioner and her staff which led to the prompt approval of the scheme by the Commission. Other Member States have taken national measures in response to their particular situations.

The recent European Council also recognised the measures adopted by Ireland and other Member States in response to this exceptional economic and financial situation. The Council Conclusions confirm that national measures already approved by the Commission, which includes Ireland’s scheme, continue to be applicable.

Dáil Éireann 666 Written Answers. Financial Institutions Support Scheme.

Questions

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