Jerry Buttimer (Cork South Central, Fine Gael)

I am sorry to see the Technical Group leaving en masse. Perhaps it is a reflection on me rather than themselves, but I hope it is not. If the Minister, Deputy Noonan, had not come in here last night and we only read this morning on the RTE website, The Irish Times or whatever newspaper of repute that the Government was engaging in this process, there would be a revolution on the opposite side and Deputy Ross and his friends would be giving out. The Minister was correct to come in here and inform the House and I commend him on doing that. He made an important point which the Deputies opposite have not mentioned. He said that details of the arrangements have still to be worked out, which the Taoiseach affirmed again this morning.

There are two simple questions before us, namely, should a Government's income be more than it spends and should a Government try to reduce its national debt. Most people who are reflective, honest and who think about where we want to be as a society and an economic State would answer "Yes" to both questions. This is at the core of the fundamental principles of the stability treaty. The treaty is about putting in place an agreement between eurozone countries. It builds on what the European Community was created for and has worked towards up to this very day. It is an agreement that requires governments to be careful in how they use taxpayers' money and that requires them to take a long-term view. When I hear Members opposite engage in the politics of protest and in cheap soundbites to gain notoriety, they mislead the very people they claim to represent. There is an obligation on a Government, of whatever hue, to represent its people and thankfully in the past 12 months we have seen, be it from the Department of Foreign Affairs and Trade or from the Department of Finance, a Government doing that, representing its people, and if we get this change, it will be very welcome. It will be a tremendous day for the Irish people and for us as a nation.

This treaty is not just an abstract European concept. It is not about a European bureaucrat being faceless and hidden from us. Neither is it about the European Commission nor the European Parliament. It about the very future of the currency, of the European Union and of us individually and as a country within the European Community. That is why it is important that the euro matters to every single person in this country. Having the euro currency, being a member of the eurozone and being the only English speaking country in the eurozone allows us an opportunity to be part of a strong currency. It has also meant that the actions of other countries have affected our currency and our economy. That is why it is important that this stability treaty recognises the whole ethos of interdependence and interdependency. That is why it is important for Mr. Sarkozy and Mrs Merkel put aside their political contests in their own countries and be mindful of the broader concept of where they want Europe to be. The treaty is about eurozone countries co-ordinating policies to prevent economic contagion. That must be at the heart of what they do in Europe at the level of Government leaders.

It is important to recognise that we as a nation are benefiting from the European Union through the European stabilisation fund. We should reflect on where we would be if we did not have it. We should cast our minds back to that infamous Sunday night when the troika came into town and to where we were in the context of the world perspective on Ireland 12 months ago and where we are today. Perhaps we are a poster boy for what a country should do right but, more importantly, within the thinking class and among the people who invest, there is a recognition that we have a Government of different political ideologies, working in harmony and unison to benefit our country, and that is what Europe is about.

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