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14/03/2011
Noonan At Brussels Summit
Just days after the Irish premier, Enda Kenny was at the EC, the Dáil Finance Minister Michael Noonan is today to attend the meeting of Eurozone Finance Ministers in Brussels.
Minister Noonan also met with EU economics Commissioner Oli Rehn this morning.
Speaking to journalists in Brussels after the meeting with the Commissioner, Minister Noonan said: "We had a general review of the position. I concentrated particularly on banking.
"We of course have no hard figures for him on the recapitalisation because the Blackrock group who are doing the stress testing haven't yet come up with the figures."
Minister Noonan said that he hoped to meet European Central Bank (ECB) President Jean-Claude Trichet "on the margins" of the Eurozone meeting for further discussions on the banking situation.
The meetings come after a summit of EU leaders on Friday, when Taoiseach Enda Kenny and French President Nicolas Sarkozy exchanged 'strong words' over the issue of Ireland's corporation tax.
Diplomats have said that Mr Sarkozy made a head-on demand for an increase in Ireland's corporate tax rate in exchange for any concessions on the bailout.
It is understood German Chancellor Angela Merkel is, in the words of one senior diplomat, less hung up on the issue of corporate tax rates, but for political and domestic reasons would like Ireland to be seen to be offering something in return for a reduction in its interest rate.
It is not clear how this will pan out - the Taoiseach will be away this week in Washington and Mr Kenny has said he regards any harmonisation of the corporate tax base as an increase in tax rates through the back door.
(BMcC/GK)
Minister Noonan also met with EU economics Commissioner Oli Rehn this morning.
Speaking to journalists in Brussels after the meeting with the Commissioner, Minister Noonan said: "We had a general review of the position. I concentrated particularly on banking.
"We of course have no hard figures for him on the recapitalisation because the Blackrock group who are doing the stress testing haven't yet come up with the figures."
Minister Noonan said that he hoped to meet European Central Bank (ECB) President Jean-Claude Trichet "on the margins" of the Eurozone meeting for further discussions on the banking situation.
The meetings come after a summit of EU leaders on Friday, when Taoiseach Enda Kenny and French President Nicolas Sarkozy exchanged 'strong words' over the issue of Ireland's corporation tax.
Diplomats have said that Mr Sarkozy made a head-on demand for an increase in Ireland's corporate tax rate in exchange for any concessions on the bailout.
It is understood German Chancellor Angela Merkel is, in the words of one senior diplomat, less hung up on the issue of corporate tax rates, but for political and domestic reasons would like Ireland to be seen to be offering something in return for a reduction in its interest rate.
It is not clear how this will pan out - the Taoiseach will be away this week in Washington and Mr Kenny has said he regards any harmonisation of the corporate tax base as an increase in tax rates through the back door.
(BMcC/GK)
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