Brian Cowen (Laois-Offaly, Fianna Fail)

In relation to the 21st report of the Independent Monitoring Commission published on 7 May, I welcome that latest report, which clearly highlights the moral bankruptcy of the so-called dissident republican groups. These groups have no mandate from the people of Ireland, North or South, for their murderous activities.

Political progress in Northern Ireland is continuing and I am confident that the attempts of dissident groups to drag us back into the past will be futile. Their activities have rendered all of us more determined to preserve the peace we have won. I commend the work of An Garda Síochána and the PSNI in continuing to counter dissident terrorists, including the very high level of co-operation between the two police services.

Regarding economic matters, it is true that, certainly in recent times, we have seen policies being pursued by the British Government that are effectively bringing about a depreciation of sterling vis-À-vis the euro to the extent in recent months of probably more than 15%, taking everything into account. That differential has exacerbated the situation regarding the equilibrium of trade one would expect in a cross-Border situation. It is suggested that the 0.5% increase in VAT was the reason for that as against the 15% depreciation, but they are the same percentages and the same mathematics that apply in terms of value. It is important to point out that, from our point of view, we will continue to do whatever we can to make this economy more competitive, to reduce costs and to ensure that we can get that equilibrium of trade back in our direction in the way it was in the past.

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