98 Deputy Peter Mathews asked the Minister for Finance if, further to the communique issued after the recently agreed Fiscal Compact stating that a qualified majority voting of 85% will be required to approve funding from the European Stability Mechanism, ESM, to a member state, his attention has been drawn to the fact that this means that any country with 15% of the votes can veto Ireland accessing funding from the ESM; if his further attention has been drawn to the fact that this provides France and Germany with a veto vote over any future Irish access to the ESM; his views that France may veto future Irish access to funding from the ESM if the Irish Government refuses to raise corporation tax; and if he will make a statement on the matter. [1041/12]

Summary

98 Deputy Peter Mathews asked the Minister for Finance if, further to the communique issued after the recently agreed Fiscal Compact stating that a qualified majority voting of 85% will be required to approve funding from the European Stability Mechanism, ESM, to a member state, his attention has been drawn to the fact that this means that any country with 15% of the votes can veto Ireland accessing funding from the ESM; if his further attention has been drawn to the fact that this provides France and Germany with a veto vote over any future Irish access to the ESM; his views that France may veto future Irish access to funding from the ESM if the Irish Government refuses to raise corporation tax; and if he will make a statement on the matter. [1041/12]

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• European Stability Mechanism

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