844. Deputy Pearse Doherty asked the Tánaiste and Minister for Finance if he was aware that Luxembourg informed the Irish Central Bank that it will not continue to approve the prospectus for Israeli war bonds. [59241/26]

I am aware of the recent decision by the Luxembourg authorities in relation to the prospectus, as reported by the media.

The Central Bank are the competent authority when it comes to the issue of prospectus approval. Furthermore, may I add, that the Central Bank, as the financial regulator, is independent in its functions from the Government as is necessary in any well-functioning democracy.

The issue of prospectus approval or transfer is a supervisory matter, and it is not appropriate that I comment on supervisory matters, in which I have no role, in Ireland or indeed in another jurisdiction.

Let me state the Governments position though regarding the EU's relationship with the State of Israel. We believe that further action is necessary and this is why we are working with others to achieve co-ordinated action at EU level.

Ireland will continue to call for concrete EU action in response to egregious Israeli breaches of human rights and democratic principles. This includes a call for a proposal to prohibit EU trade with Israeli settlements, to suspend the EU-Israel Association Agreement, or at a minimum to suspend the trade elements of the Agreement as previously proposed by the President of the European Commission.

I would also like to take the opportunity to highlight that I directed senior officials in my Department to engage with the EU Commission on this matter. Department officials subsequently liaised with their counterparts in the European Commission, drawing attention to the work of the Oireachtas, and in particular to the Joint Oireachtas Committee’s recommendation that the Prospectus Regulation be amended. This engagement reflected my view that the Commission should have regard to the report and its findings.

I have raised this issue and the Government’s views with Commissioner Albuquerque, in person and by letter.