Terry Leyden (Fianna Fail) | Oireachtas source

Mr. McCarthy is very welcome. I also welcome the members of the public and the public servants in attendance. I am sure they are here to hear Mr. McCarthy's words of wisdom, rather than the words of committee members. I note that they are taking detailed notes on his contribution. He is regarded as the sage of Ireland; the wise man who brought forward an bord snip nua and so forth, all of which we have survived and are still around.

The British would be absolutely mad to leave the European Union. If that country wants to self-destruct, all it has to do is sign an order to leave the European Union. The European Union is a massive market of over 500 million people, but, quite frankly, I do not think that will happen. The British had a very narrow escape in the Scottish referendum, which possibly could have led to the break-up of the United Kingdom. Surely they learned a lesson from it. Now, however, they are proposing the break-up of the European Union, of which Britain has been very proud to be a member for a very long time and from which it benefited. It has benefited enormously from its proximity and links with the Union.

I agree with Mr. McCarthy on the question of interference. I argue that the Department of Foreign Affairs and Trade and other Departments should desist from becoming involved in the campaign because such involvement would only be viewed as acting in self-interest. It is in our interests that Britain stay in the European Union and it is tempting to go and canvass. However, we know only too well how much we resented others becoming involved in the Lisbon treaty and other campaigns here. We resented British parliamentarians and politicians coming here and telling us what to do. That said, we could certainly try to be persuasive on a one-to-one basis in discussions through our embassies, business connections and so forth.

There is, however, a positive side to all of this; it is not all negative. If the British were to pull out - may God be good to them and I would wish them well - this would be the last remaining country in the European Union in which people spoke English in the context of inward investment. Even the fact that there is a proposal for Britain to pull out of the European Union has affected investment decisions in board rooms in the United States of America. The Americans are very wary because the way they see it is that if they were to build a plant in Britain and Britain then pulled out of the European Union, they would not have direct access to EU markets. We have such access which we are guaranteeing. Britain can do what it likes, but we are not pulling out. As far as I know, that is the policy of all parties in this country. I certainly subscribe to the view, as does Fianna Fáil, that under no circumstances should Ireland leave the European Union. We would negotiate an agreement with the British, in the event that Britain pulls out, which would be favourable to both sides. Ireland is Britain's fifth biggest customer and we would not jeopardise this. Ireland is a very big customer relative to its size.

Frankly, it is useful to plan ahead. One should never fatten the pig on the day of the fair. People like Mr. Mc Carthy and other academics should be brought in by the Government to examine all possible scenarios. We must decide where we would stand if this scenario were to come to pass. It might not happen; for now it is hypothetical. However, the fact that it has been proposed means that we must be alert. That is why I am glad to see officials from several Departments and the Taoiseach's office here. They are watching the situation closely and I presume there are officials in the Departments of Foreign Affairs and Trade and the Taoiseach who are gearing up and assessing our position and objectives. They are bringing in people like Mr. McCarthy to discuss the issues involved. In that context, the committee is playing an important role in looking ahead.

Its role is to look ahead and provide a forum for people like Mr. McCarthy who holds an academic position to outline how they feel at this point.