Luke Flanagan (Roscommon-South Leitrim, Independent)

I will campaign and vote against the fiscal compact treaty because I believe the long-term interests of the country are best served by running our own affairs. My opinion is not driven by nationalism or a dislike of Europe. It is driven by the fact that I believe power should rest as closely as possible with the people. The treaty is a further erosion and distancing of this power. It will take more power away from the ordinary citizen and put it in the hands of unelected officials in the commission and judges in the European Union Court of Justice.

In the past I have been a fan of the European Union but this was only until the leaders of France and Germany became the de facto leaders of the EU. The reality is that no matter what system of rules are introduced into the European Union, Germany and France will do whatever they wish regardless of what suits peripheral states such as Ireland. Germany broke the rules related to the Maastricht treaty at will. Now, in order that it does not occur again, the same country that was most persistent in breaking these rules is putting the gun to our head so that future offenders will be punished. As far as sticking to treaties is concerned, Germany and France do not give tuppence. A French Minister, Pierre Lellouche, has stated that the bailout funds were expressly forbidden in treaties but that did not matter at all. Germany will always do what is best for Germany. When Ireland needed higher interest rates to cool down our over-heating economy, the Germans needed low interest rates. Which got its way? Germany did. As a result Ireland was flooded with money which, along with light-touch regulation, inflated prices and knocked our economy completely out of sync with reality. It remains there. This should come as no surprise since many people, including Anthony Coughlan, warned from the outset that this would occur. There is now talk of putting another belt on the straitjacket which has largely strangled this economy.

We are informed that we will face vast cuts in living standards if we do not vote for the treaty. It is clear that if we vote for the treaty we will face even greater cuts. As part of the treaty we are expected to reduce our debt to GDP ratio to 60%. This is to be achieved by reducing debt by 5% per year over a 20 year period. We must get our budget deficit down to 0.5% of GDP as well. The only way we can achieve this without destroying our economy is by a vast write-down of debt, debt which was not ours in the first instance. Unfortunately, this is something the Taoiseach will not consider. To achieve this we must run the equivalent of budget surpluses of between €3 billion and €4 billion per year for the next 20 years.

We are informed that the alternative to voting for the treaty is that funding would be cut off from the country and the banking system would collapse. If someone puts a gun to my head, my instinct is to say, "Pull the trigger". I do so on the basis of life experience which tells me that bullies are in fact cowards. Pulling the trigger has consequences on both sides. If funding is withdrawn from our banking system and our country collapses, many people throughout Europe would stand to lose tens of billions of euro. This is a risk I do not believe those in Europe are willing to take. Instead of working out how one can save the un-salvageable, Europe should work towards helping countries such as Ireland to exit the eurozone. It does not suit anyone in Europe for Ireland to crash and burn under a mountain of unsustainable debt. However, that is what will occur if we do not take radical action.

This treaty will not create stability; it will create the opposite. It will create the very thing that Angela Merkel is afraid of, that is, an environment where extremism will thrive and desperation will become the main motivation behind people's actions. I will conclude with a recent observation by Paul Krugman, an excellent economist respected all over the world: "Rather than admit that they've been wrong, European leaders seem determined to drive their economy - and their society - off a cliff." Between now and referendum day I will do my damnedest to make sure the Government does not let that happen.

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