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

I have read all the pages. My apologies for my colleague who is interrupting me, Chairman.

I thank our guests and Ms Nolan for her introductory statement. I agree that the selection of critical infrastructure is a key factor in the ongoing investment programme for Europe, as it will impact on the alleviation of youth and general unemployment and will lead to the future development and growth in the EU. I emphasise the word "growth". The method of identifying projects will be of significant importance. Identification of the infrastructural deficits and other issues that are likely to impede industrial and economic growth is the key. We have had a recession for some considerable time right across Europe. This country, ironically, is doing better than most of our colleagues and is certainly doing better than most of our colleagues in the eurozone. Is it recognised that we must deal as soon as possible with the infrastructural deficits? I see that 2017 has been set as the date by which time when most things are likely to happen. One of the major problems in the EU is the lack of speed in identifying problems and putting in place the necessary remediation measures.

I will revert to my signature theme. I have seen no reference to the adoption of a single currency across the EU for some considerable time. I presume that is based on the equivocation about the eurozone and the pressure it came under. I am firmly of the belief that as long as we have a multiplicity of currencies in the EU, we will never have stability. I believe that is a necessary target. The possibility of achieving that is more remote than it was a couple of years ago but it is an issue that needs to be brought to the fore. If the United States had five or six different currencies it would be the laughing stock internationally, but the EU - with a much bigger population and much greater opportunity of having a serious positive economic impact - could benefit if it were possible to put the single currency back on the agenda.

My final point is that this is not a political process but a technical operation. I worry about technical operations. All my life I have been worried about them because they tend to proceed very slowly. Anything that proceeds slowly in the present climate is not to the advantage to the cohesive future of the EU or to the people of the EU. Issues such as youth unemployment, unemployment in general and the lack of economic growth must be tackled. I would like to see more specific and energetic activation to ensure we meet the targets in these areas.

We have spoken about the new Commission, Parliament and Council, yet despite the best efforts of everybody in individual member states and in the EU institutions there is a great deal of work to be done on the problems we have inherited.