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Snippet Contents:

Partners are respectful of Ireland’s traditional policy of military neutrality in these discussions. We are founding members of PESCO and support greater EU-NATO co-operation where it contributes to international peace and security. This ensures better coherence and effectiveness on the ground in peace support and crisis management operations.
The euro summit meeting on Friday morning will take place in its inclusive format, that is, with all 27 member states and will focus on economic and monetary union, EMU. The main issues will relate to banking union, the European Stability Mechanism, ESM, and proposals for establishing a budget for the eurozone. From Ireland’s perspective, we support the completion of a banking union as soon as practicable with appropriate risk reduction and risk-sharing measures. We can support the ESM as the backstop to the Single Resolution Fund. I expect agreement on this will be difficult, however.
I note the interest in establishing a budget for the eurozone. The intention is to task finance Ministers to examine the proposals carefully with a view to returning to these matters at the December European Council. One would have to know whether a eurozone budget would require additional contributions from Irish taxpayers, how much and what taxes, where will it come from, how much would it be, how it would be spent and whether it would be compatible for the eurozone and the EU to have separate budgets. These issues need to be teased out clearly. We need to have those questions answered before we can commit to supporting it.