merrion street

Minister for European Affairs, Lucinda Creighton T.D. has today (Wednesday) welcomed news that the European Commission will soon present options for the introduction of Eurobonds within the Eurozone. The Minister has been calling for such measures for some months now.

The President of the European Commission, José Manuel Barosso, delivered the news to MEPs at the European Parliament this morning.

Minister Creighton said: "We look forward to the Commission’s proposals with great anticipation. The crisis in the Eurozone requires brave and unprecedented action. The solidarity involved in a Eurobond system would go a long way to stabilising the markets and ensuring the survival of the Euro currency. From Ireland's point of view, the European Monetary Union is of vital importance to the Irish economy and to ensuring the type of sustainable growth we need to see to ensure Ireland's economic recovery."

"Over the weeks and months ahead the Government will be working to achieve a lasting common solution to the Euro crisis. Agreement on this issue with other like-minded member states will be an important step."