Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

I move amendment No. 1:

To delete all words after “Dáil Éireann” and substitute the following:

“acknowledges that the financial crisis exposed flaws in the euro area’s design;

notes the significant enhancements to the economic, fiscal and banking frameworks in the European Union since the crisis;

acknowledges that sustainable growth and job creation across the EU are a priority and indeed was a priority of the Irish presidency;

recognises the importance of the founding principles and values of the Union, such as solidarity and mutual respect amongst nations;

further acknowledges the support of our European colleagues in the reduction of our debt burden through the lengthening of maturities on the European Financial Stability Facility and European Financial Stabilisation Mechanism debt, the reduction in interest rates on this debt, the promissory note deal and facilitating the early repayment of the more expensive International Monetary Fund debt;

notes that:

- Ireland has emerged from the economic and fiscal crisis and is now the fastest growing EU member state, and most importantly jobs are being created;

- debt is sustainable and on a firmly downward trajectory;

- economic recovery has allowed us to invest in public services and reduce the tax burden on individuals in budget 2015; and

- other programme countries are also growing strongly;

recognises that multilateral engagement should form the basis for discussions regarding debt sustainability and that the Eurogroup and Ecofin are the appropriate fora in this regard; and

agrees that the focus should be on promoting sustainable growth and job creation across the EU.”

I wish to share speaking time with Deputies Nolan, Connaughton and Michael McGrath.

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