Terry Leyden (Fianna Fail) | Oireachtas source

I welcome Mr. Durkan. I commend the Chairman on holding these hearings in advance of any possibility of Britain leaving the EU. It is better to be there before the horse bolts. There is no great economic benefit for Britain in leaving the EU. It is doing well and it would not be wise to leave. The general consensus is that no political party in Ireland would even contemplate leaving the EU if Britain left because there would be no benefit whatsoever.

The announcement of the referendum, which is premature with the election in May and when people do not know who will be in power, has undermined the economy before people know who will be in government. It may be a combination of the Labour Party and the Scottish National Party but the Scottish nationalists do not want to leave. The Labour Party might be convinced that it is now politically advantageous to hold a referendum.

Yesterday, 850 jobs were announced by Apple for Athenry. It is coming to Ireland because we are guaranteed to stay in the European Union and the company can supply the European Union from a location in Ireland. It is a massive investment and a great endorsement of the country but it did not go to England. We are giving mobile companies stability and we are the only English speaking country in the region. There is a massive implication for Britain and all we can do is put across our point of view, which we are doing in a balanced and reasonable manner. We can first say that we do not want the UK to go and we will do anything we can to persuade it to stay.

It is good we have a strong Commissioner in the European Commission. He will be fighting Ireland's corner in the event of Britain deciding to renegotiate the terms of its agreement with the European Union.