Bernard Durkan (Kildare North, Fine Gael)
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I welcome Mr. Joe Durkan, with whose analysis I agree. A number of questions arose at our previous meetings which I will now put to our guest. We can tell what would likely be the impact on Britain and Ireland if the former were to exit the EU. To what extent has the impact on the Union itself of a possible exit been examined? If Britain leaves, then the Union will be smaller. In addition, if this course of action were followed, it would be the first occasion on which a member state would leave the Union since its inception as the European Coal and Steel Community. In a sense, it would also be the first reversal of the European project.

What has motivated the British establishment to contemplate taking this route? As Deputy Eric Byrne indicated, if the Tories win the forthcoming general election, it is their intention to hold a referendum on this matter. One is conditional on the other, of course, and an exit might never happen. In such circumstances, one must query the wisdom of putting forward the proposal relating to a possible exit in the first instance. What are the issues which motivate members of the British public? Is it a case of their having an us-and-them view of Europe? Has Britain ever taken ownership of the European project? Has it resiled from that project and, if so, to what extent? How much impact has this had on the entire European integration project?

Mr. Joe Durkan referred to Norway and Switzerland. The latter is situated in the middle of the European Union and is, therefore, in a very advantageous position geographically. While not so centrally positioned, Norway has the compensation of its natural resources. The case of Britain is somewhat different, particularly in the context of its relationship with the island - namely, this one - located off its western shores. There are some pundits in this country who have suggested that Ireland should also consider leaving the EU. Such a course of action would be disastrous. It would give rise to a double whammy by causing major damage to the EU and - by virtue of their isolation from the Continent - the economies of both Ireland and the UK.

Mr. Joe Durkan referred to the City of London and how remarkably and effectively it is integrating with the European area in general. There would be a serious effect on the level of trade between the City of London and other global financial services centres if the UK were to leave the EU. The knock-on effect of this would be felt in the UK's economy. There are suggestions to the effect that if the City of London is doing well in terms of trade, then the remainder of the British economy follows suit. In the event of Britain removing itself from the EU arena, what will happen to the trade carried out in the City of London?