Bernard Durkan (Kildare North, Fine Gael) | Oireachtas source

I thank the Chairman. I welcome our guests and thank them for their presentations. Mr. Martinson referred to two issues that are very important for smaller countries within the European Union, namely, sovereignty and the digital economy. Sovereignty is something we can make and break ourselves, in that our contribution to the sum total of what the European Union is will, in many ways, determine our sovereignty. If we stand aloof from the Union - if we do not engage with it - that tends to undermine our sovereignty to a far greater extent than embracing the Union. Indeed, those countries that have embraced the Union to a greater extent have lost less sovereignty than those which took the opposite position. Having said that, loss of sovereignty is in essence mythical because it is really a case of countries coming together to share their sovereignty for the common good. That can only be a good thing.

Regarding the digital economy, there are tremendous opportunities in that area for countries at the periphery of the Union, which include Latvia, Estonia and Ireland. Technology being what it is, it is possible to set up industry and create employment in smaller areas with less infrastructural investment. It is something in which all member states can engage.

The Single Market has several very interesting aspects. It has, however, been something of a two-edged sword in that, as well as the free movement of goods, people and services, we have seen how greater supervision and regulation in regard to the movement of money would have served us well in the past ten years. This is true for all member states and the Union in general. It is not possible to have a population of 500 million people and allow the totality of freedom to dictate where investment takes place and where money will go. There has to be a balancing factor. I sincerely hope we have learned that lesson.

In regard to alternative energy and its benefits, to what extent have both the ambassadors' countries managed to promote interest in such initiatives? I am particularly interested in wind energy, although I understand that hydro offers greater potential in some countries than in others.