Eureka Group
Mairead McGuinness MEP HARD WORKING, STRAIGHT TALKING summer edition 2011
Need for patient re-negotiation on was awarded a Green Flag in recognition of its work the Parliament in Brussels in March. In 2010 the school visited Kells in School ary Second e. Eureka initiativ from s ts Studen ation as part of the Green School king a project on energy efficiency and water conserv litter management, recycling and planting. It is now underta
Rarely has the EU agenda been stacked with so many pressing matters. The current agenda includes; tackling economic performance, increasing competitiveness, fixing a new EU budget, dealing with climate change, developing external relations and trade policy while seeking to secure EU energy needs in the face of declining confidence in the safety of nuclear power. But the most pressing problem facing the EU centres around the on-going debt crisis and fears about the sustainability of debt in the Eurozone.
Marking this year's National Enterprise Week at Bank of Ireland, Ballinasloe; Mairead with Paul Connaughton, Jnr., T.D and Gerry Real, Manager, Bank of Ireland, Ballinasloe.
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The Government is intent on meeting Ireland’s commitments in relation to loans and the targets set out in the IMF/EU bailout agreement, while at the same time it is also actively negotiating for changes to that agreement. Addressing the interest rate on the loans has proved difficult. Whereas the EU Commission has agreed in principle that we should get a rate reduction, unrealistic demands are being made by both France and Germany as a quid pro quo for such a reduction.
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Ironically, our strongest ally appears to be the IMF which has described our problems as “a shared European problem that requires a shared European solution.” The IMF’s Ajai Chopra said that more European funding needs to be made available for bail-out countries if the crisis in the euro area is to be contained. But in his most telling comments he remarked that countries affected by banking and economic problems “cannot do it alone.” He suggests that an unacceptable burden is being placed on them by budgetary cuts that may not be economically or politically feasible. And he rejected any attempts to force us to increase our corporation tax rate saying that they are inconsistent with our efforts to restore growth. The IMF is particularly opposed to any deepening of our austerity measures
saying it would retard growth in an already difficult economic environment. We must do all in our power to avoid the cocktail of low growth, high unemployment and higher interest rates which will make it extremely difficult for our economy to recover. So how do we convince our EU partners that this is a shared problem? Some Irish political voices propose dramatic and drastic action like walking away from the EU/IMF deal. However, as economist Colm McCarthy recently wrote, “....no unilateral course of action is available to the Irish Government that will work. Those who suggest burning the bondholders, leaving the Eurozone or telling the IMF/EU to take a hike have failed to come up with a policy programme that has a decent probability of working to Ireland’s advantage.” His solution: patient re-negotiation of the deal. I agree, it is the only rational course of action for the government over the next few years.
Giants of our time One of my great delights since becoming an MEP was meeting the great Dr. Garret FitzGerald on one of his many visits to Brussels. He was a frequent visitor to the EU institutions where he would debate and argue imaginatively and energetically about the past, present and future of the Union. Others have written more eloquently about his many fine political achievements. I remember Garret from my teenage years as an inspiring politician who believed passionately in ideas and who encouraged many young women into politics. He will be remembered for leading public opinion on many difficult issues and
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Useful Websites These are some useful websites for more information on the EU and the Parliament. Europe Direct http://ec.europa.eu/europedirect/index_en.htm The European Commission in Ireland http://ec.europa.eu/ireland/welcome/index_en.htm Cian and Sadh bh McCann fro m Blackrock, Co European Parlia . Louth on a vis ment, as part of it to the Sabhdh's winning Direct "Have yo prize in the Euro ur say! Soapbo pe x Competition on Wind Energy ".
The French are demanding the impossible in calling into question our corporation tax rate. The Germans are also calling for concessions.
The European Parliament http://www.europarl.europa.eu The European Commission http://ec.europa.eu Council of the European Union http://www.consilium.europa.eu EPP Group in the European Parliament http://www.eppgroup.eu
One of the most important aspects of my work is to listen to you and keep you informed about what is happening in Europe. The quickest way to keep up-to-date and watch what is happening is through my website www.maireadmcguinness.ie Log on for news, comment and information.
Contact Mairead Email: mairead.mcguinness@europarl.europa.eu Website: www.maireadmcguinness.ie
helped to create a more open and outward looking society. Described as one of Ireland’s best Europeans, he will be missed by those of us committed to the European ideal. In recent weeks Fine Gael lost another great politician and patriot with the passing of Declan Costello. In word and deed he brought a deep awareness of the social dimension of economic policy and a profound sense of care for the vulnerable. The values he espoused continue to inform and inspire Fine Gael. Ar dheis De go raibh siad.
Constituency Office: Mentrim, Drumconrath, Navan, Co. Meath Tel: +353 (0)41 685 4633 Fax: +353 (0)41 685 4634 Brussels Office: Tel: +32 (0) 2284 7214 Fax: +32 (0) 2284 9214