Billy Timmins (Wicklow, Fine Gael)

I was always supportive of Europe and this country's involvement in Europe. We spoke about a two-tier Europe in the past but I am concerned that it is becoming a three-tier Europe of the EU, the eurozone and within the eurozone, France and Germany.

I note in the Minister's response that in a further letter this week to President Van Rompuy, Mrs. Merkel and Mr. Sarkozy called for greater progress on the proposal for a CCCTB in the context of what is being referred to as a renewed contract between euro area member states. The Minister went on to say that as this is central to the current discussions by Heads of State in Brussels that he is precluded from making any further comment. I strongly urge him to pass on a clear message to Government and the Taoiseach that to give up or compromise on CCCTB is the equivalent of compromising on our corporate tax rate, and that it is equally as important. Notwithstanding that, it is important that we ensure fiscal discipline on monetary and economic policy in the Union. A deterrent must be introduced. The rules of the Stability and Growth Pact were broken by some of the larger countries, some of whom are to the forefront in seeking discipline now. It is important that we find a solution, but it is equally important that we protect our interests. The corporate tax rate and CCCTB are vitally important. We cannot let either of them go, because if we do, this country will become an outback in Europe.

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