Fianna Fáil Leader Micheál Martin is this evening attending a meeting of ELDR Leaders, Ministers and Commissioners in Brussels. The meeting comes ahead of the latest crisis summit of EU leaders in an effort to rescue the Eurozone from collapse.

Speaking in Brussels Deputy Martin said: “I believe from the proposals that have been tabled by Chancellor Merkel and President Sarkozy that too high a price is being sought from countries like Ireland and the core problems at the heart of the Euro project would not be resolved by these proposals.

“I am discussing our concerns with our colleagues in the ELDR today but more importantly I have been emphasising the need for a significant shift in the role of the European Central Bank in solving the crisis. Europe and the Eurozone countries need a lender of last resort. We need the ECB to assume that role as a matter of urgency.

“I am concerned by the proposals from the German and French leaders for a common corporation tax base. These would cost Ireland billions and there has been no clear statement from the Taoiseach about what approach Ireland is taking heading into this crunch summit.

“Ireland and Europe needs a comprehensive solution to the sovereign debt crisis and it can and should be achieved by sticking to the principles of solidarity and mutual respect which is at the core of the European project.”