The Taoiseach has dismissed suggestions that proposals from the European Commission regarding the Budget would lead to a diminution of Irish sovereignty.
Brian Cowen told the Dáil today that the proposals, which would mean the Budget would have to be submitted to Brussels before it is presented in the Dáil, are only at a 'starting point of discussion.'
He also said that the need for European-wide economic co-ordination is fundamental.
The Taoiseach was responding to comments from Sinn Féin's Caoimhghín Ó Caoláin who said the plans represented a further erosion of budgetary and fiscal matters.
