Jim Daly (Cork South West, Fine Gael)

I welcome the opportunity to contribute to this debate. The importance of the upcoming debate on the EU stability treaty for us as a nation cannot be underestimated. In speaking on RTE two or three months ago I said I hoped the Attorney General would advise that we hold a referendum because it would give us the opportunity to have a real debate on the issue. That is what has transpired, which I welcome, as it will be of benefit to Ireland if we can get at the truth.

This is not a good day for politics or politicians in the light of the report published this morning which gives a negative view of them. Although the burden can be borne more on one side of the House, it is still not a good day for politics. It is important, however, that we rise to the challenge of being honest with the people. The media have an obsession with the soundbite and the cheap populist rhetoric of a minority of representatives in the House. I regret this because the negative campaigning is effective in distorting the facts in this important national conversation on our relationship with the European Union.

The main negative is that the treaty has come too late for my generation, a generation consigned to debt because of the reckless decisions taken by the architects of society in the last decade. It is to be regretted at our leisure that such a responsible and common-sense attitude to lending was not mandatory in the last ten years. The debt, both sovereign and personal, and ensuing devastation for so many Irish families could have been spared. The basis for the deficit in the day-to-day running of our economy was a delusional dependency on unsustainable tax revenues, primarily from the property bubble. In a belated attempt to ensure this is not repeated, the troika has correctly laid down the condition that Ireland must introduce a property tax, which will provide a sustainable base for collecting our taxes.

This debate is, yet again, an attempt by the Opposition to request an À la carte style of governance that is devoid of any form of realism or responsibility and dominated by the hollow rhetoric and empty soundbite so loved by the media. It rejects austerity which, as I have said previously, is no more or less than merely living within our means, and it demands an endless array of services. It is high time our society participated in a more informed debate on the future of our economy. This treaty would stand on its merits if we were never part of the EU. It merely requires a government to decide to live within its budget and control the amount of money it borrows. Every household in the country is doing that daily, and is very proud and responsible to be doing it.

If Ireland was never part of the EU, this would be a sensible treaty. It is all the more important when we are part of the EU that the other countries in the EU, our trading partners, also comply with the treaty. This will allow us to grow our exports. Figures released today which show that our GDP grew by 0.7% last year are welcome. It is a positive step. However, what is holding back this country is the domestic economy. Our trade and exports are thriving but the domestic economy is not, due to the lack of confidence. That is the direct result of the negativity and constant political games being played by the other side of the House. It is destroying that confidence and, in turn, holding this country back from achieving what it seeks. I ask the Opposition to wear the green jersey and be a little more responsible in debating these issues.

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