Gerry Adams (Louth, Sinn Fein) | Oireachtas source

Ba mhaith liom fáilte a chur roimh an Uachtarán Schulz. Tá súil agam go raibh seans aige taitneamh a bhaint as ár bhflaithiúlacht Éireannach agus go mbeidh turas maith aige anseo. Ba mhaith liom "go raibh míle maith agat" a rá leis as ucht na focail an-soiléir a dúirt sé. I welcome Mr. Shultz, MEP, the President of the European Parliament, and thank him for his remarks. I will deal, first, with the immediate financial crisis facing the State and Europe and will then make some comments on the future direction of the European project.

For the past five years states across the European Union and European institutions have been grappling with fiscal and banking crises. A succession of summits has failed to deliver any concrete solution. The previous Government informed us that the State was coerced into a European bailout by the European Central Bank and other European leaders in 2010. It claimed that EU institutions insisted that the Irish taxpayers should carry the burden for the bad banking debts of private institutions and the banks.

In June this Government returned from the European Council summit claiming it had secured agreement that this bad banking debt would be lifted from the shoulders of Irish citizens. The Taoiseach called it a "seismic shift" and the Tánaiste described it as a "game changer". However, last week's statement by the so-called "Helsinki three", the finance Ministers of Germany, Finland and the Netherlands, that the ESM bailout fund would only deal with future banking liabilities, sharply contradicts these assertions. This situation was made worse by the European Commission President's, José Manuel Barossa's, very clear refusal yesterday to back the Government's interpretation that the June agreement would deal with legacy debts in the banking system.

I welcome remarks of the President of the European Parliament on this issue today, though I note he couched them as his personal opinions. I especially welcome his eloquent comments on the need for solidarity. He said that the bigger member states should not give lessons to the smaller ones and I agree. However, he will know that thus far, as far as the leaders of the bigger European states are concerned, smaller states such as this one can be treated with disdain and left to carry the burden of debts that are not ours.

Unlike the Government, Sinn Féin from the very start of this crisis has been advocating a write-down of private bank debt. Bank debt needs to be separated from sovereign debt. The burden of bad banking debt, the so-called legacy issue, which was foisted on the shoulders of the Irish people, also needs to be removed.

At the conclusion to recent EU summits there has been much talk about a renewed focus on jobs and growth rather than austerity, but people need to see delivery on these promises. European leaders are failing to tackle the jobs crisis. Some 24 million citizens are unemployed across the EU and in this State 440,000 people are on the live register. The scourge of emigration is once more a factor for families and communities, particularly in rural areas. The eurozone countries urgently need investment in jobs, particularly in the peripheral states.

This can be achieved by among other measures an enlarged investment fund in the European Investment Bank. However, the passing of the recent fiscal austerity treaty is undoubtedly bad for jobs and for growth, and will hamper prospects for economic recovery. Research published last week by the Central Bank of Ireland indicates that the State will need to run austerity budgets until 2020 to meet the targets set down in the treaty.

The continuation of this type of austerity, coupled with the austerity policies in other EU states, will serve to hamper the prospects of a strong recovery across the Union.

Sinn Féin believes that a radical change in direction is required and that the EU has its priorities seriously wrong. We agree with many of President Schulz's comments. However, the EU can find €100 billion for bad Spanish banks but only a pittance to tackle youth unemployment. President Schulz has identified youth unemployment as the most serious problem facing the people of the European Union. We welcome that statement, which is true. I appeal to the President to go beyond fine words and to give real hope to a generation of young people without work.

The European Union and member states need to focus on stimulating Europe's economies and to encourage growth through stimulus packages. There is no stimulus in any of what the Irish Government is doing. We need to get people back to work. More important, we need to protect the most vulnerable of our citizens by protecting public services rather than destroying them.

Sinn Féin has long argued that the role of the ECB needs to be re-examined and that it needs to fulfil the role of a lender of last resort. In recent months, the focus of attention of the larger states such as Germany, the President of the Commission, Mr. Barroso, and Mr. Schulz, as President of the EU Parliament, have moved increasingly towards a political and fiscal union. Sinn Féin does not believe that fiscal federalism will stabilise the euro. The current policy of austerity and bank bailouts has led to greater instability in the eurozone. The one-size-fits-all monetary policy was part of the problem. A one-size-fits-all fiscal policy will only make matters worse. Sinn Féin is firmly of the view that what is now required is a different approach based on investment in jobs and economic growth.

In his state of the Union address to the European Parliament several weeks ago, Mr. Barroso confirmed that a federal Europe is the ultimate goal of the EU Commission. Sinn Féin has consistently raised the concern in previous referendum campaigns that Irish sovereignty is being undermined and that we are being pushed towards a federal Europe. The democratic deficit was mentioned. The people of this island have never been consulted on that issue. I welcome President Schulz's comments on the need for greater democratisation of EU institutions but there needs to be a recognition in Brussels that there is no mandate or popular will in this State for a European super state or United States of Europe - on the contrary.

President Schulz recognised in his speech today that communities and citizens across the EU, in particular young people, are struggling with sky high levels of unemployment, emigration and under-employment. They are victims of an economic mess caused by the type of austerity policies to which the Commission is wedded. What citizens in Ireland and across the European Union want is practical leadership. President Schulz spoke eloquently about the need for solidarity and about trust being required. However, until there is evidence that the European institutions and the Governments are focussed on creating jobs, protecting public services and sheltering the most vulnerable from the outcomes of austerity, we will see a continued alienation of people from these institutions. A social European Union is required, a European Union of equals, one which protects our citizens, rural communities, young people and most especially those who are marginalised and vulnerable. Mar a dúirt mé, cead míle fáilte, one hundred thousand welcomes. I thank President Schulz for his attendance, his remarks and wish him good luck in his job.

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