Eurozone Deal

Im sure there are a lot of people like myself who are keeping one eye as to whats happening in Europe and trying to make sense of it and the other eye on local and national issues and problems.  Many people whom I meet at various functions and in the street tell me they are extremely worried for the future.  Bearing that in mind I believe it is so important now more than ever that the Government take strategic  correct measured decisions for our Country.  On the one hand people say our decision making has to a large extent been ceded to Europe already.  One more referendum on the Treaty (if the need arises) wont make much difference.  Others say we should go back to the punt or align ourselves with the British currency.  Each day plays out a new senario and I appreciate those who are negotiating for us in Europe have a tough time.  Of course we want to play our part as members of the EU for many years, and we did for our size have considerable influence.  Whilst we do not, as a nation, want to get left behind we also need to protect our own interests and those of the irish people.  Im sure that the Government knows this and will proceed with caution.

·Last week’s agreement on the creation of a fiscal compact goes some of the way towards achieving what the government hoped it would; that is, stabilisation of the single currency, economic growth and the beginning of a move out of recession.

· The agreement consolidates elements of European fiscal policy that have been discussed and agreed at previous Summits and represents a ‘credible, enforceable and realistic set of proposals in terms of budgetary scrutiny and economic governance’.

· With regards to the possibility of the requirement of a referendum here in Ireland, clarification on this issue will not be forthcoming until a more complete draft of the text of the new agreement is provided.

·Ireland, in tandem with its European partners, will feed into the drafting of this document, which will be available by March of 2012, according to the Taoiseach.

·Minister Creighton expressed regret at the decision of the UK to pull out of the treaty reform discussions but stated that it was vitally important for Ireland to move forward with its European partners rather than isolating itself on the periphery of the Union.

· Ireland’s relationship with the UK remains strong and solid but this country must work with other euro zone countries to move the agenda forward and to protect the single currency.