Kevin Humphreys (Dublin South East, Labour) | Oireachtas source

I welcome the motion because it is important that we discuss this issue. In that regard, I do not agree with the previous speaker that it is ever the wrong time to discuss our position and role in Europe. I fully support the Government amendment to the motion and commend the work done by Ministers, the Taoiseach and Tánaiste in particular, and civil servants in the past five months as part of Ireland's Presidency. Their efforts have been crucial to restoring the reputation of the country and fostering stability, jobs and growth across the Continent. As the Tánaiste observed, as did Deputy Paul Connaughton, Ireland's recovery is inextricably linked with that of Europe. We must all acknowledge how tight that linkage is and that our role is very much at the heart of Europe.

It is critical that we achieve agreement on the European Union budget. A great deal of work has been carried out by both the Taoiseach and Tánaiste to bring matters as far as they have come. Agreement on the budgetary position will safeguard continued investment in research and innovation to develop the jobs of the future and the provision of the Structural Funds that will put workers back to work and facilitate the delivery of critical infrastructure. An agreed budget will ensure farmers throughout the country, who are currently experiencing such difficult circumstances, will receive the support they need. We have seen the problems they face every night on the news, and support from Europe is vital if they are to overcome them.

As the Tánaiste said, there were mistakes made by this State in the past which cannot be allowed to happen again. The continued work on banking union will provide much needed stability and regulatory control which will help to strengthen and support the currency. Deputy Connaughton mentioned the youth guarantee fund. Ms Emer Costello, MEP has done a great deal of work in this regard. When she started off on that road, most people said a youth guarantee fund would not make any real difference. However, €6 billion is now included in the budget for that purpose. Many young people in this country will access that funding and the pilot scheme is already up and running in Ballymun.

Investment requires money. We need shovel-ready projects to avail of support from the European Investment Bank. I have made the point before that there is €3 billion in EU funding to which we are entitled to make a claim. This arises from the sale of €20 billion of our bonds at a discount some years ago. We must seek an agreement in Europe that the profits from those bonds, amounting to approximately €3 billion, be returned to Ireland. It is essential that this happens, as has been done in the past for other member states. As it stands, the profits from bond sales are shared proportionately across the eurozone on the basis of GDP and population. A commitment that this €3 billion will be restored to Ireland would go a long way to securing further investment in our infrastructure. This issue must be pursued with the European Central Bank. It is funding that is rightly ours.

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