Micheál Martin (Cork South Central, Fianna Fail)

Through a combination of half-rumours and speculation it is agreed everyone knows how serious things are, but that is as far as it goes. There are no papers in general circulation I know of and I have not been alerted to any. There is no inclusive discussion or negotiation. Most of all there, is no attempt to abide by the principle of solidarity which created and built the most successful multinational organisation in world history.

What is deeply worrying is that nearly all public statements from participants have focused on a fiscal reform agenda which is utterly marginal to the crisis in hand. Countries with a much worse fiscal situation than the eurozone are in a much stronger position and no one is talking about them facing default or being pushed out of the market. There must be stronger fiscal rules, but anyone who thinks they alone will restore market confidence is choosing to ignore reality.

In his speech the Taoiseach used terms like "economic union" and "economic convergence". He should define them for the people and Members. What are we actually talking about?

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