David Cullinane (Sinn Fein)

The only people who would describe this treaty as good would be those in the Tea Party in America. Those individuals would be very proud of the treaty and what it seeks to do. This debate is marked by a dichotomy which goes to the heart of the treaty and the language people use to describe it. For example, the Minister of State refers to it as a stability treaty and he actually used the word "stability" on perhaps 30 occasions during his contribution. He also stated that it is not an austerity treaty. However, he and other Government representatives have informed us that the treaty is aimed at reducing our deficit. To do this, the Government must ensure that we adhere to the targets and rules contained in the treaty. The latter will obviously involve making adjustments to budgets. In turn, such adjustments will obviously involve austerity. If the Minister of State is in a position to offer a different interpretation of what is meant by "austerity", perhaps he will make it known to the House.

The Minister of State referred to clarity and simplicity. In my opinion, such clarity and simplicity must relate to what the treaty will do and what will be the real problems. A number of Government representatives, including the Minister of State, have indicated that the treaty is not about private debt or what is happening with the banks. They have also stated that it is not primarily about jobs but that it is rather about fiscal discipline. Therein lies the problem. The main difficulties Ireland is experiencing involve unsustainable levels of debt and a lack of growth and investment. Many people are asking what the treaty is all about, particularly as it does not deal with the real problems we face.