Seán Conlan (Cavan-Monaghan, Fine Gael)

I welcome the opportunity to speak in support of the stability treaty. I see the key function of the Government as restoring our economic independence and creating the correct conditions to get all Irish people back to work. Ten years of populist, incompetent Government have resulted in a diminution of Irish independence, mass unemployment, emigration and a public and private debt mountain which will cause hardship for this and the next generation.

I very much welcome the fact the people will have the opportunity to vote in the referendum on this treaty. A "Yes" vote will help to prevent a return to bad, populist governments which always take the easy options and to the flawed economic policies of Cabinets containing Bertie Ahern , Brian Cowen, Deputy Micheál Martin, and Deputy Éamon Ó Cuív which destroyed this country. How will we do this? By insisting that future governments both here and in the rest of the eurozone implement balanced budgets as a norm, limit budget deficits to 3% in economic downturns and bring down debt-GDP ratios to 60% over a 20 year period.

We are already doing much of what is contained in this treaty. Ireland has already committed to reducing our deficit and this treaty merely formalises this process. People who want to ensure future governments both here and in the rest of the eurozone have to adhere to sensible and responsible policies which minimise fluctuations in the economic cycle and prevent a return to the boom and bust policies of the past should vote "Yes" for this treaty.

I believe passing this treaty will enhance our recovery programme as it will give us access to the ESM, a rescue fund of which we can avail if necessary. It will enhance confidence within the business community that Ireland is a stable place in which to do business and invest.

We cannot be sure of all the benefits which will result from passing this treaty but we cannot afford as a nation to limit our recovery potential with the uncertainty about our place in Europe that a "No" vote would engender. Unlike previous referenda, Ireland does not have a veto on this treaty. It will come into force on 1 January next regardless of how we vote. Ireland is the only English speaking country in the eurozone. This gives us great advantages in attracting foreign direct investment. Recently we had the announcement of 1,000 new jobs in PayPal in Dundalk which will have very positive effects in my constituency and the whole of the north east. It is important a "Yes" vote is secured because it will provide confidence to multinationals that Ireland continues to be a safe and stable place in which to invest to gain access to EU and eurozone markets.

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