Dick Roche (Wicklow, Fianna Fail)

I will deal with the last point first. A great deal of work has been done on this point, particularly by the Joint Committee on European Affairs. The House must come to grips with this issue because this was one of the major points in the Lisbon treaty to which we all signed up. Deputy Costello also made this point. We signed up to it not because we wanted to get the treaty over the line but because it is inherently one of the most positive aspects of the treaty. There is a major challenge to all sister parliaments across Europe about how to use the facilities available. This is a challenge to the Houses of the Oireachtas, given our electoral system, our political culture and how we do our business. Deputy Barrett is correct in that this presents a major challenge because the material, the drafts and the legislation is coming to the Houses at the same time as to member state Governments. This presents a major task for the Houses. I agree with Deputy Barrett's earlier point about the need for restructuring. In a paper I delivered last week I went further by stating restructuring is not possible in the Houses of the Oireachtas until we examine our electoral system. This was a personal view, not a Government view. Our electoral system does not support the kind of House outlined by Deputy Barrett in his contribution and several times previously. Members can best serve the people if they can get away from day-to-day activities and focus more on how to deal with the future. While one cannot control the past, one can control the future. However, much valuable work is going on and, in particular, I recognise the contribution by Deputy Barrett's colleague, Deputy Durkan, in this regard.

The Deputy asked a series of questions with regard to the future and how, for example, economic governance will look in the Union in the future. The Van Rumpuy task force is addressing this issue and the first discussion on that has been held. The turbulence in the financial markets has proven that, notwithstanding Deputy Ó Snodaigh's little Ireland view of Europe, we would be in a devastating position. Moreover, it would not be just this small economy because, as most people are aware, small open economies are terribly vulnerable in times of turbulence. The question of how Europe deals with such turbulence and with economic imbalances is very much the focus of the Van Rumpuy report. I believe I have heard the Deputy refer at least once to the question of how Europe will deal in the future with issues such as the negative role played by credit rating agencies or how one should deal with hedge funds. These are matters that we will not be able to control from our focal point but we will be able to deal with it collectively in the future. Similarly, the Van Rumpuy task force is considering how budget procedures and budgetary discipline should be improved and what type of sanctions can be contemplated. This is because it is quite clear that when a situation arises such as occurred, for example, in Greece, where the statistical base simply did not reflect the reality, it poses a problem.

The Deputy also mentioned the issue of a levy and the question of oversight on banks. I agree there is a necessity for a common system throughout Europe and the Government has made this point. However, it also has made the point, because the Deputy touched on the issue of a levy, that a levy on financial institutions would be obliged to take account of banks' fragile position, particularly with regard to the timing of such an imposition, because any levy placed on a bank ultimately will be placed on its customers. These issues are in contemplation and this is where Europe has moved on.

A final point made by the three Members who are present in the Chamber is that it is important for the Houses of the Oireachtas and the debates therein to be more pertinent and more related in time to the decisions. During the past year, there has been a positive development in the committees, particularly in respect of the Joint Committee on European Affairs, whereby Ministers attending meetings, be it the Minister, Deputy Martin, or myself, must inform the joint committee as to what they intend to say and must return to the committee thereafter and make a quick report. This also would be a good practice in the other sectoral committees. However, while Deputy Barrett is correct to state that this a major challenge, matters are moving in a positive direction.

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