Dáil debates

Wednesday, 1 February 2012

10:30 am

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)

The Minister mentioned the word "negotiation" and I hope that will form part of the outcome because the wording of the treaty indicates that the timeframe will be proposed by the Commission. To what extent will the input of the individual member state be taken on board? By any measure a further adjustment of almost €6 billion in nominal terms, although we hope that growth will offset that, is very significant. It comes on top of €8.6 billion between 2013 and 2015. My question is very reasonable. In what timeframe will we be expected to deliver? What can stop the European Commission in 2015 requiring Ireland to knock a further €5 billion to €6 billion off our deficit to bring it within the 0.5%?

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