Paschal Mooney (Fianna Fail)

The people of this country woke up this morning to read a most pessimistic overview by the Economic and Social Research Institute in its latest quarterly report. One stark reality that is facing the nation, according to the report is that "As long as Europe remains in crisis, there is little prospect of Ireland returning to a path of sustainable, export-led growth." It is obvious that there is a failure of leadership at European level but the question that remains for this country and its citizens is what exactly Government policy is on the evolving euro crisis. Try as I might I can find nothing other than a holding operation by the Government from the Taoiseach down. Is it an active participant in the debate on the future of the euro or is it sitting back and being pliant because we have to receive money from the European Central Bank? Is it succumbing to the, as it were, Merkozy form of European Government? Are we to assert ourselves, despite our diminished sovereignty, as a country that has an opinion and a point of view? What is making it all the more critical is that in the ESRI report question marks now surround Government policy on the achievement of its budgetary targets by 2015.

While the Taoiseach, the Minister for Finance and other Ministers have repeatedly said that the austerity measures that have been imposed on the Irish people are going to achieve prosperity in the short term by 2015, it is salutary that the UK Chancellor of the Exchequer yesterday put his hands up and admitted that the UK will not be able to reach its budgetary targets by 2015. Our economies are similar but the UK is admittedly larger. The question remains as to what exactly is Government policy in this regard.

Our party leader, Deputy Martin, wrote to the Taoiseach three weeks ago seeking a meeting so that a cross-party policy could be developed that would support the Government and help it in the debate and discussions on the evolving crisis. The Taoiseach has declined the offer. Once again, I ask the Leader to convey the request to the Taoiseach. We are in a national crisis. Therefore, we need to have a national response. It is not sufficient to say, as some Ministers have been saying since the election, that they represent a national government; they do not. They represent a portion of Government. They represent a particular segment of the Irish people. Therefore, it is important that there should be all-party consensus on the future that would strengthen the hand of the Government.

There is a need for further clarity in light of the ESRI report, the other points I have made, and the leaks from Government that are scaring the living daylights out of people in terms of next week's budget. The Minister of State with responsibility for European Affairs, Deputy Lucinda Creighton, must come to the House today to issue a statement to clarify exactly what Government policy is on the evolving euro crisis, to respond to much of what is in the ESRI report, which is dictated by what is happening in Europe, and to tell us whether the Government has a plan B in the event that the euro collapses. Banks outside of the eurozone have already stated publicly, according to yesterday's Financial Times, that they are now activating a plan B in the event of a possible collapse of the euro.

I wish to end on a positive note. I am sure the Leader would agree that confirmation of Giovanni Trapattoni as the Irish soccer manager for the next two to three years has given a big boost to this country. I am sure he would also agree with the patriotism shown by Denis O'Brien-----