Mick Wallace (Wexford, Independent)

Does the Minister not agree that it would be more sensible for the Swiss to benchmark themselves against the euro rather than the yen or dollar because they are worried about their currency being too highly valued? If, for example, the euro goes to €1.25 against the dollar, for example, the Swiss would not be bothered by that. It would not be a problem for them. If the euro floats down a little more it certainly would not be a problem for them because they were not very happy with the over-inflation of their currency.

Does the Minister not agree that most of the experts in Europe and even the German and French finance Ministers are of the opinion that the euro in its present form will not survive unless we have total fiscal union? It is debatable whether that is in our interests. Does the Minister not agree that fiscal union would signal the end of our financial sovereignty?

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