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[Lunchtime Bite] Minister: ESM ruling moves EU away from crisis

The Public Expenditure Minister is admitting the delay in getting the green light for the new Eur...
Newstalk
Newstalk

13.23 12 Sep 2012


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[Lunchtime Bite] Minister: ESM...

[Lunchtime Bite] Minister: ESM ruling moves EU away from crisis

Newstalk
Newstalk

13.23 12 Sep 2012


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The Public Expenditure Minister is admitting the delay in getting the green light for the new European bailout fund could have pushed back a deal on our banking debt.

This morning the German Constitutional Court gave its backing to the European Stability Mechanism (ESM) but with a number of conditions.

The court said any financial cost for Germany arising from the ESM must be strictly limited to its share of the capital of the fund or €190 billion.

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If the costs were to be increased beyond that it could only be done with the approval of the German Parliament.

The decision means financial support can be given to Eurozone countries in distress like Ireland and Greece.

The Taoiseach Enda Kenny says the ruling moves the Eurozone away from a potential crisis.

It is a view shared by Minister Brendan Howlin.

“Obviously there are conditionalities of it – there’s an upper-ceiling in the volume of money the ESM will have; subject then to decisions of the German Parliament, which is right and proper” he said.

“So it’s good news, and it has averted what I think an alternative decision would have been a…political problem for Europe” he added.

The Cabinet is set to discuss the potential wording of a children’s rights referendum at its meeting this evening.

It will take centre stage at the Parliamentary Labour Party meeting in Kildare today.

The Fine Gael Children’s Minister Frances Fitzgerald is visiting the gathering to explain to TDs and Senators the work done on the referendum.

She addressed her coalition colleagues in the Parliamentary Labour Party on the vote planned for autumn.

She says some further discussions will be needed before the government makes an announcement on the date.

“What I’ve said all along is that we will publish the wording and the adoption legislation – so we’ve some further consideration of the wording today, and possibly at further Cabinet meetings” she said.

“And the adoption legislation will then also be agreed by Cabinet”.

“So we’ve said all along – as the Tanaiste has said – that we’re committed to having a children’s referendum”.

“We’re on track to have that referendum as a stand-alone referendum in the autumn” she added.

23 years after the Hillsborough Disaster the British Prime Minister has apologised to the families of the victims and the survivors.

After decades of campaigning thousands of official documents about the tragedy are being published for the first time.

They are likely to criticise police and the British government.

Labour MP Steve Rotheram, who was at Hillsborough that day says an apology is just the first step.

“The next stage has to be the justice part” he said.

“And that will start by the Attorney-General applying to the High Court to quash the original unsound verdict of accidental death” he added.

A multi-vehicle collision has occurred in Waterford City.

The crash happened on the Ballybricken Green Road.

The area between The Glen to the Garda Station is currently closed.

Diversions are in place.

Gardaí say no one has been seriously injured.

There are calls for a Facebook page that claims to identify paedophiles in the North to be taken down.

The PSNI is monitoring the page which claims to name and shame sex offenders in Derry.

Newstalk’s Jack Quann has more.


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