Paul Coghlan (Fine Gael)

I agree with Senator Ó Domhnaill's comments regarding the summit and the stability treaty. The Taoiseach and the Tánaiste are to be congratulated on a successful summit, although the main summit will follow in a month's time. I like the strong focus on addressing the problems of youth unemployment and infrastructure and on the idea that unused Structural Funds should be placed in a centralised pool for use by countries such as Ireland. There is a strong package of stimulus measures which, I hope, will be signed off on at the next summit in a month's time. I also like the proposal regarding project bonds. This is all positive for Ireland and I compliment the Taoiseach and the Tánaiste.

What Senator Ó Domhnaill said about the treaty referendum is important. As he said, matters were clarified at the summit. There has also been clarification from the Referendum Commission. Everything the Senator said in that regard is true. The treaty is simply about good housekeeping and good budgeting, which the country needs for the future.

Senator Ó Domhnaill also referred to providing access to funds. Why should we cut ourselves off from those funds? If further money is needed, and we hope it is not, it would be stupid not to have that insurance policy in place. We need funds to look after our social welfare recipients and pensioners and to pay public service employees. This is a prudent measure. I am glad matters were clarified beyond all doubt at the summit.