Joe O'Toole (Independent)

We would also like to be associated with the words of Senator Cassidy in congratulating Senator Cummins on his elevation to the important role of Leader of the House. I wish him well in that regard. I also thank Senator Cassidy for his support and co-operation in recent years as Leader of the House.

On the question raised by Senator Cassidy, I seek a reassessment of where we are in the European Union. By the end of the general election campaign everyone in the country was certain that we would have a reduced interest rate because we had been told this by every party. However, the first trip by the new Taoiseach to Brussels undermined that idea. He was told there was no such commitment to reducing the interest rate. There was then the question of restructuring, which has also been removed from the agenda for the moment, as well as the question of changes to the tax base by way of the CCCTB. All of these issues have to be looked at. I wish the Government well in this difficult task and support the points made yesterday by Senator Regan on the importance of maintaining our relationship with the European Union in the way we do business.

There are some things about which we need to be careful. We cannot start to raise the expectations of the people only to have them dashed. In that regard, there is much loose talk coming from the Government. It would be useful, therefore, if it outlined clearly the vested interests of France and Germany in the discussions.