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

It is important to put on the record our appreciation for Mr. Donald Tusk as President of the European Council. When Fianna Fáil was in government, we found him to be a strong partner for Ireland during his time as Prime Minister of Poland. As Deputy Enda Kenny will confirm, we spoke in favour of the proposal that the previous Government support his appointment as President of the Council. He has been highly effective. Most importantly, he has spoken up in favour of common values in the face of governments either undermining them or being silent. On Brexit, he welcomed contact from all sides in Ireland and never ceased to make the central point that Brexit was bad for everyone. We wish his successor, Mr. Michel, well, but it is important to say that the agenda that he has set out so far is unclear in terms of where the urgency is and how he sees his role as the guardian of certain core values.

One of the most urgent tasks is undoubtedly to address core weaknesses in the monetary union. It was reported last week that Germany was considering dropping its objections to a eurozone deposit insurance scheme. The absence of such a scheme has been identified by every study of the financial crisis and the great recession it caused as a critical weakness within the eurozone. Is Ireland supporting renewed efforts to create a eurozone deposit insurance scheme?

Another identified weakness in the eurozone is the absence of a credible fiscal capacity. Unfortunately, Ireland has publicly aligned itself with the hardline stance of trying to prevent the creation of a eurozone fund large enough to make a difference in the early stages of recessions. Why is Ireland working against something that is so manifestly in the interests of the eurozone?

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