Gerald Nash (Louth, Labour)

We all agree that stability in the euro area is vital to Irish economic and social interests. The insidious instability we have witnessed in the past two to three years, compounded by gross inaction and a slow creep from one crisis to the next, is politically very destabilising and socially damaging. There has been an excessive focus on the primacy of the markets, to the detriment of any real dialogue on the effects of the chaos we are currently experiencing in the lives of Irish and European citizens. Absent from the debate has been any proper consideration of this fundamental issue.

Markets and economies do not exist - as far as I can establish - in a vacuum. They should exist on the basis of their value to humankind, and not to serve the base interests primarily of the international gambler or speculator. Fiscal stability in Europe and across the world is critical to enable the delivery of social justice. Fiscal crises and uncertainty, coupled with a failure to comprehensively deal with them, leaves those weakest exposed, with the poorest and most vulnerable damaged.

There is a massive urgency to stop the rot in the eurozone. The last thing Ireland needs in the coming days is another episode of the "Grand Old Duke of York". The Irish Government is making common cause with those states who see the EU, the eurozone and its future as much more than a duopoly dominated by two major power brokers. The solution lies in a radical and definitive response, in the first instance over the next two days and consequently with a common agreement that would demand the democratic support of all states, either across the European Union or just the eurozone. There is a mutual dependency in that regard.

To borrow a phrase, we should not waste a good crisis. Irish priorities, worked in partnership with EU colleagues, must be brought to provenance, which is what Deputy Mathews and others suggested. Irish interests are European interests and EU interests are Irish interests in this multi-dependent framework we are currently working towards. I find interesting the remarks of some colleagues during the course of the debate which essentially request the Irish Government to show its negotiating hand. That would be pure stupidity.

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