Donohoe, Paschal

Tuesday, 9 November 2010

Seanad Éireann Debate
Vol. 205 Nbr. 9

Order of Business

I support the calls for consensus made by many of my colleagues. However, it is important to emphasise the point made by Senator Regan about the degree of consensus that already exists in many are...More Button

The calls for consensus are based on the assumption that if we reached a full consensus our difficulties would go away. I do not think that is our main challenge. Our issue is not a lack of conse...More Button

European Council: Statements

I welcome the Minister of State to the House and thank him for his update on the conclusions and decisions from the European Council meeting. I want to register a concern about a number of the dec...More Button

There are three different areas in which the conclusions of last week must be cause for concern for Ireland and for where we find ourselves at this time. I want to focus on the declaration of conc...More Button

It contains a certain sentence which will further affect the difficulties the country is currently experiencing:More Button

This wording has had the effect of further spooking the people we need to invest in Ireland. It indicates the European Union will over the next several months put in place a mechanism to manage co...More Button

One consequence of this European Council meeting will be to make the current difficulties we have in raising capital even more fraught. One only has to look at the briefing notes and media comment...More Button

This has further increased the anxiety and worries people have about their willingness to invest in what are now termed peripheral states. It is in Ireland’s interest that the discussions an...More Button

The European Council meeting made proposals for strengthening the Stability and Growth Pact. My interest in this area stems from producing a report for the Joint Committee on European Affairs on t...More Button

In my report, I pointed to two difficulties that would arise from these changes. First, how willing would the European Council be to vote for significant sanctions against a member state? Second,...More Button

My second concern is whether the increase in the number of sanctions proposed will actually sow the seeds for the failure of the proposed new Stability and Growth Pact mechanism, just as the last o...More Button

We are now operating in an environment in which the bond markets, having been asleep for the past ten years, are now hyper alert. If any single member state shows signs of budget difficulties or a...More Button

Would the European member states not be better off combining a more narrow sanction agenda — but one that has a greater chance of being implemented — with the fact that the financial ma...More Button

I have touched on two economic areas, one of which concerns whether what happened last week has inadvertently deepened the difficulty in which we find ourselves. My other point was to raise concer...More Button

My third concern is about an issue at the heart of Ireland’s standing within Europe. So many of the small to medium member states’ economies have played a role in trying to provide a c...More Button

The Minister of State referred to a Franco-German statement preceding the European Council meeting, which placed further emphasis on the decisions and conclusions made at the Council. My concern i...More Button

A consequence of what occurred last week has been to make our own challenges even greater. We must be willing to speak up and make these points. It is in our economic interests to continue to par...More Button

I look forward to the Minister of State’s response to the concerns I have raised.More Button