Enda Kenny (Mayo, Fine Gael) | Oireachtas source

There is no question that there are serious concerns about developments in Europe and much larger countries in the global economy. China has its own difficulties and there are emerging difficulties in other countries. The United States faces challenges in the time ahead and, clearly, countries within the eurozone have a range of difficulties.

On the other hand, Deputy Higgins is well aware of the potential of the Single Market and that if countries work together with their people and follow a clear path to getting their own houses in order, their economies can grow and get the benefit of a Single Market of 500 million people. Countries on the periphery, including those into Africa, are now growing at the rate of 5%, 6% and 7% with enormous potential for exports and job opportunities. The Deputy is aware that export figures in the agriculture sector have increased with clear implications for growth in our economy. Things are not as bad as the Deputy often paints them. It is not for me to lecture the left or any other group and I have no intention of doing so. Deputy Boyd Barrett knows that I disagree fundamentally with him on a regular basis but his view as an elected Member is as valid as that of anybody. The question of whether it is true is a different matter.

When I spoke to the Greek Prime Minister, Antonis Samaras, he spelt out the nature of the challenge facing people in Greece and made the point that they were looking for an extension of two years from the troika to deal with their problems over a four-year period. The Portuguese Prime Minister, Mariano Rajoy, has a different set of challenges, including those not directly related to the economy here. The French President, François Hollande, has put through his budget and has a range of other issues to deal with and the Italian economy must turn over €20 billion per month. So the situation in the eurozone is of concern because of the extent and extended period of this recession. If other economies cannot purchase, the traffic lights back up and we cannot export, which has implications for us. However, they regard this country as one that is making steady progress towards achieving and retrieving its economic independence, getting out of the bailout programme and moving on. We want this to happen as quickly as possible. I note the successful return to the bond markets earlier this year and the fact that yields have fallen from over 14% to less than 5%, deposits are coming back into the banks and foreign direct investment is strong. However, I do not doubt the scale of the challenge we face and, as Deputy Boyd Barrett and others have noted, I meet with people who, unfortunately, have lost their jobs and are unemployed and looking for opportunities. This is why I was happy to attend an event with the Minister for Social Protection, Deputy Burton, yesterday in Sligo that aimed to start a new process for people who can make a contribution to the local economy and their lives and have opportunities based on their talent and experience and what they can learn. It is not a case of just one country having a set of problems; there are a number of problems associated with countries in Europe. The decisions by the Council on Thursday and Friday will focus on that and, hopefully, some more progress can be made.

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