Eamon Gilmore (Dún Laoghaire, Labour)

First, there will be plenty of time for discussion about the proposals being worked upon because they will be going back to the June summit meeting. However, in reply to the two Deputies, I am happy to set out in summary what is being proposed. It is intended to do this across three pillars. The first pillar is to mobilise EU policies to fully support growth, to advance legislative measures dealing with the Single Market Act, the energy efficiency directive, the European patent and the digital agenda, and to pursue work on how to better use international trade as an engine for growth and to complete major trade agreements.

The second pillar is the stepping up of efforts to finance the European economy. The board of the European Investment Bank, EIB, is being invited to consider an increase of its capital by June for financing projects across the European Union. As I indicated, the Minister for Public Enterprise and Reform, Deputy Brendan Howlin, has been in discussion with the EIB about how that might be applied in Ireland. There is also the European Union-EIB project bond initiative and the reprogramming of current Structural Funds to support growth, jobs and training and the gearing of the multi-annual financial framework to enhance growth and jobs enhancing policies.

The third pillar is the strengthening of job creation. That will address areas such as skills and training, promoting a job rich recovery, the development of national jobs plans which will be given prominence following country-specific recommendations, better synergies between national and European instruments, including Structural Funds, to combat youth unemployment, the introduction of youth guarantees and quality traineeships. Those proposals will be worked on between now and the June summit and there will be plenty of time for the House to have a full debate on them. Constructive proposals from Members to support those measures will be particularly welcome.

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