Micheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

Thursday, 9 May, is Europe Day. Unfortunately, the European Union and the European economy are not emerging from the unprecedented financial and economic crisis. The predictions are that Europe is falling deeper into recession. For the second quarter in a row we are witnessing contractions in some of the main European states, including France, Germany, Italy and Spain, and unemployment continues to rise. There are 26 million people in Europe unemployed, some 5.7 million of whom are young people. There are also 115 million people under threat and at risk of poverty and social exclusion, with all of the problems and issues this throws up in terms of mortgage distress and the capacity to put the essentials on the food table etc.

Many European citizens believe the response of the European leadership from the outset has lacked urgency and been out of tune with the impact of the crisis on the daily lives of people in terms of their own economic reality. The twin pillars underpinning the creation of the European Union - solidarity and cohesion - have not been as evident in the European leadership's approach to the economic crisis. Some commentators and other distinguished speakers have identified as part of the problem Europe's pursuit of a singular model, in terms of economic orthodoxy, in dealing with the crisis. Despite this, there are different manifestations of the problem in different countries, including different unemployment profiles, and all we are seeing is the pursuit of one model to the exclusion of all others.

This is having a detrimental impact on the capacity of countries across Europe to recover. Does the Taoiseach believe there should be a radical rethink of the economic model Europe is pursuing now and that there is a need for radical economics across the European Union to prevent the divisions that are occurring?

See this speech in context