Aideen Hayden (Labour)

Warning bells went off and there was criticism from the EU about the way our economic policy was going. Not to put too fine a point on it, two fingers were given to the advice we were getting from Europe. There was the Boston v. Berlin argument, and the "we knew better" approach. The fact of the matter is that we did not know better. When it came right down to it, which were we going to depend on - Boston or Berlin? The reality is it was Berlin.

No matter what we might say about the Germans, Chancellor Angela Merkel, President Sarkozy and the whole nine yards, the fact we have the capacity to pay our bills as they fall due is because we are part of Europe and the eurozone. The treaty provides the people with an opportunity to ask themselves who they are as a nation. In the debate on every previous treaty we got bogged down on what we could get out of Ireland's membership of the European Union. Will we step up willingly or will we squeeze the lemon until we hear the pips squeak? Will it be a question of what more can we get for our farmers or from the Structural Fund? It must be made clear to the people that this treaty is not about such matters and any party which suggests anything different is deluding them. The treaty is about moving forward within the eurozone and, to be fair, in dealing with the serious challenges faced by it. The only way in which people will be mature is by having a referendum on the issues involved, not on septic tanks, the household charge or whether one's school did or did not secure an extension but on the euro. The referendum must be on Ireland's participation in the European Union and the euro.

All Members can argue about whether the European Union has been of benefit; I am sure some political parties will argue that it has not. I have heard some eminent economists proposing that we should be the Switzerland of the European Union, whereby we can sit around on the periphery taking people's cheap money without necessarily being part of the mainstream. I do not believe that to be true. Our history has shown that we have been under the yoke and in the shadow of sterling. It is not really open to us, therefore, to become the modern European equivalent of an 18th-century Venetian city-state, as proposed by one economist, nor is it possible for Ireland to be the place in which one hides one's money offshore. It has an export-driven and export-led economy; consequently, one must look to the future of the country and ask what the treaty is all about. I do not want the referendum to be about whether farmers can receive an extra few bob here or there, or whether we can get a better deal on the bonds. This time I want the people to consider the treaty on its merits and state whether they seek a future for Ireland within the eurozone, "Yes" or "No".

I agree with my colleague, Senator Michael D'Arcy, that nothing is being asked of us under the treaty that we are not already doing. The downside, on the other hand, means we would not have access to the European Stability Mechanism, ESM. We would not have access to the funds the economy might need. I hope we never will need them and believe we are pulling out of the crisis. While it is my honest belief Ireland may not need another bailout, it is time to ask whether it is about what the European Union can do for us or about what we can do for it. This time I would like the people to really embrace the opportunity to demonstrate that they believe in the European experience and the euro. They should affirm they are not reluctant but are willing partners who completely believe in answerability. Members should not forget that it is not merely Ireland's answerability that is in question, as the compact treaty also pertains to the answerability of other countries which also must declare their hands andindicate what their economies are and are not doing. The treaty is about having a real union and greater fiscal and monetary responsibility.

I conclude by noting it is Seachtain na Gaeilge. Tá brón orm nach bhfuil an Gaeilge chomh maith agam ach the bottom line is the treaty presents an opportunity for people in Ireland to say "Yes" to the European Union and an economic future within the eurozone. The treaty will proceed without us, as its ratification by 12 member states will enable it to be implemented. Anyone who thinks there will be a second chance or a second opportunity is greatly mistaken. I hope Ireland will not merely limp over the line but will get itself over it enthusiastically.