Seanad debates

Wednesday, 18 July 2012

Developments in the European Union and Ireland's Presidency of the European Council: Statements with An Taoiseach

 

Senator Coghlan spoke about the irreversibility of the euro currency and that is the position. Many doomsayers were suggesting that Greece would collapse and that people would leave or be forced out of the eurozone. The situation is that European leaders have, at last, grasped the importance of making political decisions and moving on. While we had decisions in the past, the markets did not believe in them and reflected that before meetings were even finished. That attitude has now changed. While there is a difficult road ahead, given the scale of the Spanish and Italian economies and the difficulties of a number of countries, Ireland is now seen as a small country in a very challenging position, but one which is making steady headway towards a point where it can retrieve economic independence.

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