Education Minister, Ruairi Quinn, has said that he expects any Europe-wide deal on bank debt will be applied retrospectively to Ireland.
Minister Quinn's comments follow speculation that in the future, European rescue funds may deal directly with banks that get into difficulty, as opposed to linking the state to the banks, as was the case in Ireland. Minister Quinn said that decision was an extraordinary one which has been disastrous for Ireland, adding that he expects the situation may change in the future.
"If there is a Europe-wide measure to deal with the banks, my expectation - and it is an expectation, not a guarantee - is that that would be open to us to avail of retrospectively."
Saying that President Hollande wants more efficient use of EU structural funds, the minster denied that the Government was jumping on the bandwagon of the new regime in Paris. "He has hitched his wagon to ours, actually", Minister Quinn said of President Hollande's insistence that a growth package for Europe be drawn up.
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