Lucinda Creighton (Dublin South East, Fine Gael)

I thank Deputies for their statements, comments and questions.

The question asked by Deputy Ó Fearghaíl is connected to that asked by Deputy Martin. Programme countries such as Ireland, Greece and Portugal have paramount obligations which are taken into account in the treaty and allow for the programmes we are in to take precedence for the time being. The Government will conduct some form of fiscal analysis and assessment of what will be required beyond the programme but it is too early to say what it will find. That work will be undertaken, however, and it is already beginning in the Department of Finance.

On the question on the binding and permanent nature of the debt brake, it was the intention of the Government, before this treaty was even contemplated, to introduce a fiscal responsibility Bill, a legislative debt brake. That is what we intend to do. We believe it will essentially be in line with what is provided for in the treaty. I disagree absolutely and reject the contention that introducing the measure via legislation, or including wording within the physical compact which allows for alternative ways of introducing the debt brake within different member states, was somehow to try to avoid a referendum in Ireland.

There are many different legal systems in the European Union, as the Deputies will know. Every member state has its own hierarchy of legislation. In some countries, the constitution can be changed by the parliament, but that is not the case here. In other countries, there are tiers of legislation, ranging from regulations to other measures, all with different levels of effect.

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