Mary Lou McDonald (Dublin Central, Sinn Fein)

In his speech, the Taoiseach painted a picture of what he calls a "virtuous cycle". The virtuous cycle brings the deficit under control and provides a growth stimulus to the economy which would boost growth rates and job creation. This growth in turn would lighten our debt burden, which in turn would encourage further growth. This is very sensible but the difficulty is that the policies the Taoiseach recommends, which are reiterated in the austerity treaty, are not the stuff of the virtuous cycle but the stuff identified as a vicious cycle of a downward spiral described by the OECD. The Taoiseach may pretend forever and a day that it is not so but the reality contradicts that. As long as we have 14% of our workforce on the live register, 30% youth unemployment, forced emigration on a scale not seen since the 1980s - with nine people an hour fleeing this State - and families under pressure in mortgage distress, these give the lie to the Government's propaganda that austerity is working. It is not.

Let me be clear. There is little point in the Taoiseach saying he is going to this meeting to do the divil and all and to be an active participant in a discussion around growth and jobs when he persists with an austerity policy that is killing any prospect of growth, keeping people out of work and sending yet another generation to make their lives and contributions in Brisbane, Toronto, Sydney and London. I am relieved to hear the Taoiseach say that he will be an active contributor to this meeting because for a long time I wondered if he was saying anything at all at these meetings. He says he has long been a champion of growth. However, as a keen observer of these matters, it strikes me it has been the French electorate and Mr. Hollande who have forced this matter. That demand for growth is reiterated across Greece, Italy and in Britain, where people have given their verdict on policies of austerity through the ballot box.

The call for citizens to reject the austerity treaty is a call to move this State and Government on to the right side of the conversation and debate at European level. Austerity has failed. There is nothing to suggest that come 1 June, things will miraculously change and austerity will start to work. That will not happen. Sensible people, politicians and commentators recognise that. It is time for the Taoiseach to get a bit of sense, to get with the programme and to go to this meeting and, if he is going to be a constructive contributor, ditch his mantra of austerity and embrace a philosophy of growth. However, that means ditching the austerity treaty too.

See this speech in context