Dáil debates

Wednesday, 6 May 2020

European Council Meeting: Statements

 

1:45 pm

Photo of Thomas PringleThomas Pringle (Donegal, Independent) | Oireachtas source

There is a saying that one should never waste the opportunity provided by a crisis. It certainly seems that is what the European Union is going to do throughout this crisis. The Taoiseach said earlier that what we should see coming out of this is a fully functioning Single Market. I would love to know what he means by that and if he would explain it to the House because it is a very interesting statement. What I take it to mean, and what I take the judgment of the German constitutional court to mean, is that we will have to move to far-reaching European economic union, where, basically, this Parliament will be a county council and we will take our measures from Europe.

It is very interesting how the court judgment is being reported today across Europe. The Irish Timesrefers to "The welcome ruling on Tuesday by the German federal constitutional court that the European Central Bank’s (ECB) massive 2014 quantitative easing...". However, other European copy raises concerns and suggests it is actually undermining the European Union. I would like to know what Ireland's intention is and where we want to go. To take what the Taoiseach is saying, as well as what was said by Deputy Micheál Martin, the ultimate outcome of this will be that we resign ourselves to becoming a county council that accepts diktats on European measures. I, for one, do not think that is the way we should go. We should look to build a Europe of equals, which we are not, but this seems to be the underhand way it has happened within Fianna Fáil and Fine Gael, in the Dáil and in Ireland. It seems to be the case that we will use this crisis to build up momentum and we will get treaty change down the road. Treaty change is ultimately what will have to come.

One commentator on the Politico website states:

Some worry that the ruling effectively neuters the ECB, blunting the famous declaration made by then-president Mario Draghi in 2012 to do “whatever it takes” to save the euro. That's because the decision makes clear that the central bank doesn’t have carte blanche to follow through on Draghi's pledge.

Many economists believe the only way to resolve the tensions around the ECB’s mandate is to amend the EU treaties to both broaden the bank’s purview and to give the eurozone fiscal powers, which would make the currency area less dependent on the ECB in times of crisis.

"Fiscal powers" means to give the bank parliamentary powers and it means us giving up our powers. The Politico article continues:

'It is clear that the eurozone cannot continue to muddle through with creative interpretation of EU law by the ECB,' said Stanislas Jourdan, executive director of Positive Money Europe ... 'More than ever, eurozone institutions, starting with the ECB, are in need of a treaty overhaul.'

What this will actually mean is that a centralised Europe will be given more powers and that we will consign our country to being a county council within the EU. Some would argue that perhaps we are already and that we just take whatever they tell us and get on with it. At the time of the bailout, we took our medicine and got on with it and sacrificed the people, our housing and our homeless in order to ensure that Europe moved forward. Will the Minister of State clearly lay out the Government's stance on this, because it is very important? Over the next 18 months we will see a European treaty change to broaden and increase the powers Europe has. Is this what the Government will support and call for?

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