Joint Statement following meeting of the Federal Minister for Finance, Dr. Wolfgang Schäuble, the Minister for Finance, Michael Noonan and the Minister for Public Expenditure and Reform, Brendan Howlin.

29th October 2012

The Federal Minister for Finance, Dr. Wolfgang Schäuble, the Minister for Finance, Michael Noonan and the Minister for Public Expenditure and Reform, Brendan Howlin met today in Farmleigh House, Co. Dublin.

The Ministers discussed the Irish Government’s plans to emerge from the EU/IMF programme next year and to make a full return to the markets. The outcome of the latest troika review where over 160 commitments were fulfilled on time and some 80% of the funding drawn down was also discussed. The challenges facing Ireland were also covered including the country’s ability to improve the sustainability of the programme.

The Ministers also had an exchange on broader developments in the Eurozone ahead of Ireland’s Presidency of the European Union in the first half of 2013 including the growth agenda and the proposals for Banking Union.

The Irish Ministers set out the objectives of Ireland’s Presidency of the EU, which will include the promotion of growth, the restoration of the EU’s competitiveness and measures to increase employment across the EU.

The Ministers discussed the need for timely implementation of European Council conclusions, including the examination of Ireland’s well performing adjustment programme as reaffirmed by the Taoiseach and Chancellor Merkel on 21 October 2012.

ENDS