Seanad debates
Wednesday, 14 March 2012
Treaty on Stability, Coordination and Governance in the Economic and Monetary Union: Statements
10:30 am
David Cullinane (Sinn Fein)
The reason he opted out was that he knew he was being asked to sign his country up to painful fiscal discipline measures that would have caused more problems for the Spanish economy, including greater unemployment. Given that the Spanish economy will contract this year, it would have made the position much worse. Governments must have the flexibility to manage their fiscal affairs.
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