Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

It is a pleasure to be here. The purpose of this debate is to give the House an overview of the Government's policy towards the European Union and provide an opportunity for Senators to comment on developments in the European Union which may be of interest to them. I will provide an update on the thinking and priorities of the Greek Presidency and some of the changes that are afoot in Europe. I also propose to comment on some changes that may occur in the European Union institutions later this year.

Before discussing these issues in detail, it is worthwhile to pause and reflect on everything that has happened in the European Union in the past 12 months. We should consider how far we have come, while remaining cognisant of how much more needs to be done and the journey that remains to be completed in the European Union and among its member states. It was not long ago that debates were taking place on the airwaves and elsewhere on whether the eurozone would break up. It was suggested that certain countries would leave the euro and we heard about the impact this would have on countries that remained in the eurozone. I recall being contacted by constituents 12 or 18 months ago asking where they should put their money and if they should invest in other currencies or metals.