ECOFIN Council - December 2012

Arrival of Michael NOONAN, Minister for Finance of Ireland

Duration : 00:00:09

SOUNDBITE (English) Michael NOONAN, Minister for Finance of Ireland

The meeting is called specifically to reach an agreement, we just received a text on French-German compromise and there is now at least a basis for agreement. I would be hopeful that there will be an agreement, but we cannot be certain until the debate starts.

Keywords : single supervisory mechanism Duration : 00:00:33

SOUNDBITE (English) Michael NOONAN, Minister for Finance of Ireland

I am not sure yet if the timelines will be within the framework of January 2013, but I expect so.

Duration : 00:00:11

SOUNDBITESOUNDBITE (English) Michael NOONAN, Minister for Finance of Ireland

The first step is to have the supervisory system in place and then we would be in a position to start talking about it. There is a commitment to Ireland and that commitment is reinforced in bilaterals between the Taoiseach, the German Chancellor and the French President. We will be hoping as the year goes by to get into serious discussions.

Duration : 00:00:36

SOUNDBITE (English) Michael NOONAN, Minister for Finance of Ireland

The political deadline on Ireland is March 21st when the next payment is due, it would be very difficult for Ireland to pay the money on that date. We are working towards a deal and we hope we'll get a deal. There is good will, but there are some hurdles to be overcome.

Keywords : Ireland Duration : 00:01:25

SOUNDBITE (English) Michael NOONAN, Minister for Finance of Ireland

There was an announcement saying that the buy-back of Greek bonds was very successful, we hope to review that position of Thursday morning and it seems to me that the Greek position will be resolved Thursday morning.

Keywords : Greece Duration : 00:00:47

END

Duration : 00:00:00