Thomas Byrne (Fianna Fail)

I mean it in a genuine way.

I wish to highlight some points. Many speakers have made statements, including the Minister of State. She stated, echoed by her colleagues, she is very supportive of enhanced economic governance. I am not, nor is my party. Page 8 of the communiqué explains what enhanced governance and surveillance means. It means adoption in member states of rules on a balanced budget. I do not agree with that. If we had those rules on balanced budgets in 2008 when our taxes came over a cliff, we would have been obliged to cut social welfare by up to 40% in that year alone, rather than take in the long period ahead.

There is an invitation to national parliaments to take into account recommendations adopted at EU level on the conduct of economic and budgetary policies. There is now a commitment in this programme to stick to the recommendations of the Commission and of the relevant Commissioner regarding the implementation of the Stability and Growth Pact. For member states in the excessive deficit procedure - which includes us, of course, but also most eurozone countries-----