Dick Roche (Wicklow, Fianna Fail)

Deputies Creighton, Timmins and Costello touched on this in their contributions. The EU recognises that a cautious approach must be taken, particularly to support and stimulus packages and most particularly to their phasing out. I am sure the Deputy is aware that there is significant discussion on this issue in the United States. While the stimulus package started very early there and significant numbers of jobs were under way, particularly in social construction, the money is now beginning to run out and they are now talking about further lay-offs. The problem with a stimulus package is how to reverse out of it. Exit strategies will have to be prepared and co-ordinated. The Council itself made a reference to the fact that such strategies must be prepared in the framework of the implementation of the Stability and Growth Pact, as has been requested by the Commission. The objective is to ensure that there is strong and sustainable economic recovery and that the danger highlighted by Deputy Creighton and others will not come about, visiting a new shock on the system.

The Council is concerned about employment. Chancellor Merkel issued a statement yesterday on driving employment in the German economy. There is a specific acknowledgment that the increase in employment levels and the promotion of active social inclusion and protection will be focal points in the new European strategy for jobs. This realisation underlines much of the discussion in the European Union.

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