I thank the Taoiseach. It is a helpful response and it is welcome to be certain that the Minister did not tell the ECB in advance. It shows an independence of which we should show more. Unfortunately, the Minister came straight back, went to Europe yesterday and fell back into the friendly embrace of Madame Lagarde again.

It is a procedure which I challenge the Minister to repeat with Madame Merkel when she takes charge.

That is Enda's woman.

Deputy Cowen is only jealous.

Come on. This is not just about Madame Lagarde, and I do not want to personalise it too much. Despite this extraordinary courting of France in which we have been engaged, we did not get any cut in the interest rate yesterday. What has been the result of these constant meetings with the French Minister of Finance and in what way have they paid off for Ireland?

French courtship has been a matter of considerable comment over the centuries. The Minister for Finance, Deputy Noonan, gets on very well in a professional capacity with all of his colleagues in Europe. The French have been very helpful in respect of Ireland's case and those of other countries in terms of the changes on preferred creditor status in regard to the European Stability Mechanism. France and Ireland get on very well in areas besides the rugby field such as the agri-economy and our support for reform of the Common Agricultural Policy and other areas in regard to the development of the Single Market.

The French Minister of Economic Affairs, Finances and Industry, Ms Lagarde, has a complete understanding of the challenge facing Ireland and was very strong and forthright in her view on the positive change brought about the Ministers in Luxemburg in regard to the change in so far as preferred creditor status is concerned. For a country like Ireland, which has no wish or intention of being involved in a permanent bailout facility such as the ESM, this is a positive move by the Ministers for Finance and is something in which the French played a central and strong part.

The question of the interest rate did not arise and was not discussed yesterday because of the overriding imperative of dealing with the situation regarding the Greek Government and economy. The Minister for Finance, Deputy Noonan, in going to Luxemburg, was very clear in his view that what was needed from the Luxemburg decision was, irrespective of what decision might be arrived at in regard to Greece, that Ireland and countries like Ireland would be protected. He has achieved that and is to be commended on so doing.