Anger, annoyance and frustration summarises the experience of the Irish people with the Troika.

The lack of transparency and the imposition of severe cuts to vital public services, affecting the most vulnerable including the elderly, the sick and the young have left a long lasting mark on the fabric of Irish society.

There is a deep responsibility at an EU level to break the vicious circle between bank and sovereign debt.

I am pleased that the draft report specifically refers to the June 2012 commitment by EU leaders, as a result of an amendment which I tabled with my Fianna Fáil colleagues.

The amendment also calls on EU leaders to substantially alleviate Ireland’s burden of bank debt.

The delay in the implementation of this specific commitment by EU leaders is simply unacceptable.

EU leaders cannot make such important political commitments and then delay unduly in implementing them.

I hope that the adoption of this Report will help the Irish Government to expedite a solution to this critically important economic matter.