Dominic Hannigan (Meath East, Labour)

I am delighted to speak on this Private Members' motion. In essence, it proposes that we should not ratify the Article 136 amendment to the EU treaty, thereby in effect holding up the introduction of the ESM. The proposers of the motion advocate that we should reject the stability treaty and go to the EU and say that if they do not give us access to the ESM we will stop it happening and in the process make sure that no country will get access to the ESM. If ever we want to talk about blackmail, that is blackmail in black and white.

Sinn Féin has gained too much for too long by threatening people by aggression. Now it will threaten the security of our country and deny our European neighbours and comrades access to funding that might prevent recession across Europe in their countries and that might protect the people of Europe. So much for showing solidarity with the working people of Europe. It is disgraceful for them to claim to be a party of the left and yet seek to deny financial stability to millions of families across the European Union.

It would be a case of "ourselves alone", if we went that way, but we are not alone. We do not want to be alone; we want to work together. Sinn Féin may be accustomed to using aggression to get what it wants but that is not the way the European Union works. It works through negotiation, it works together and it does not bully. "Le Chéile" is a phrase I use in this respect. We need to go forward, through negotiation and compromise, with the EU. The announcement last night in this House by the Minister, Deputy Noonan, shows we can make progress on measures such as the promissory notes.

All of us accept that it would be foolish at this stage for Ireland to go on an "ourselves alone" pathway. The Government supports the stability treaty. We believe in responsible budgeting and economic stability. I do not see how any credible left wing party can come in here and support irresponsible budgetary measures, considering the crisis facing this country. This stability treaty will ensure that no future Government ever has to deal with the disastrous mess with which my Government was left. Sinn Féin does not want to see a repeat of what Fianna Fáil has inflicted on this country. We envisage this treaty will enhance consumer confidence and thereby enhance investor confidence in Europe. It will bring stability to our budgetary systems and ensure that across the European Union, regardless of any particular member state, measures will be put in place to make sure each country respects the targets and rules of the European Union and if they do not, they will be penalised. There is no point in talking about a blackmail clause; there is only one blackmailer and it is clear which party that is.

See this speech in context