EU plans to keep closer eye on national budgets
By Donal O’Donovan and Brendan Keenan
Saturday November 06 2010
IRELAND and other eurozone countries will have to accept much closer surveillance of their national budgets, the Irishwoman who heads the EU Commission said yesterday.
Catherine Day, secretary general of the commission, said it was in the interests of member states that the EU took a more active role in monitoring countries’ fiscal positions.
“There is no doubt whatsoever that there will be a big step forward in the economic governance of the eurozone at least,” she told a meeting in the Institute for International and European Affairs (IIEA) in Dublin.
“The commission will be much more involved in policy-making of the member states and we want that to be seen as helpful in preventing problems arising, rather than as intrusive.”
Earlier, Ms Day told a business briefing organised by the Ireland For Europe lobby groups that bringing the public finances back under control was a necessary starting point for economic recovery. “There is no sound economic policy without that,” Ms Day said.
She suggested Ireland should consider its priorities carefully before negotiations begin on the EU budget over the next 10 years.
The Government would also have to “analyse carefully” proposals on corporation tax that the commission will produce next year, although these will recognise that tax rates are a matter for national governments.
The EU’s Internal Market Commissioner, Michel Barnier, who was also in Dublin yesterday, told members of the Joint Oireachtas on EU Affairs in Leinster House that he would like to see Ireland participate in moves to harmonise the way in which corporation tax is calculated in different countries.
He said that did not mean agreeing to common corporate tax rates, which would require the unanimous support of all members, including Ireland.
The commissioner said he would like to see the VAT systems across the EU co-ordinated and streamlined, but again did not call for a common rate.
Mr Barnier said Ireland had the tools to recover from the economic crisis. “I am confident there is light at the end of the tunnel. The Irish character, competitiveness and readiness to adapt to change means the country has what it takes to win in the long term,” he said.
- Donal O’Donovan and Brendan Keenan
I am not aware of or have much information on this group except what I can get on the web at http://www.people.ie/english1.html
The changes demanded by the German Chancellor last week to the Lisbon treaty should necessitate a new referendum on these changes and I do not believe that Brian Cowen or Lenihan has the right to just exclude the opinions of the Irish people we the people are sovereign and not Mr.Cowen or Lenihan .This is our constitutional right and we all know what Cowen and Lenihan think of the peoples right with regards to representation in the Dail.! They have conspired to deprive citizens in 4 constituencies of their right to representation in the Dail and the high court made its ruling plane last week.
They were forced to concede to a by election in Donegal .The delay was hatched to maintain Fianna Fail and the Greens in Office
We must demand our right to a referendum because of these enormous changes and their consequences for our National Sovereignty .No Government can sign away our sovereignty
Sovereignty belongs to and derives from the nation Mr. Cowen!
Below, this invitation was sent to me, to partake in a demonstration next week against the EU’s increased influence over our national budget, I will not be going but I thought others might want to know about it!
On Tuesday next, Olli Rehn, who is the European Commissioner for
Economic and Monetary Affairs will visit Dublin to brief Irish
elite groups on why the rest of us must suffer huge cuts in
services, increased taxation and other impositions in order
to save the banks and the German bond holders.
Brussels is calling the shots on the forthcoming budget – a fact that an
increasing number of journalists is preparead to admit – and Rehn is the
Our slogans should centre around issues such as ‘hands off our
budget’ , ‘restructure the debt’, ‘Growth and Stability Pact target – 2020’,
‘no more bank bale-outs’ and ‘a single systemic bank – a state bank’.
These are all issues that Brussels and the ECB can directly influence and
are influencing – despite their feeble denials.
We plan a demonstration outside the offices of
The Institute of European Affairs, 8 North Great
Georges Street, Dublin on Tuesday next, 09 Nov
2010, beginning at 14:00. Rehn will speak there
at 14:45 on the subject of ‘Economic Governance in the Euro
We realise that the time of the demonstration is awkward for many people
and so we would like to have a good idea of the potential attendance
before we finally committ to go ahead.
Please indicate by return of mail to post @people.ie whether you
will be available.
The decision will then be made at midday on Monday, on the
basis of returns and you will be personally notified.
- UPDATE 2-Irish debt plans fail to reassure investors (reuters.com)
- EU’s Rehn welcomes Irish budget plan (reuters.com)
- EU’s Rehn “strongly endorses” new Irish budget plan (reuters.com)
- Ireland targets 6 bln euros debt cut in 2011 (reuters.com)
- Analysis: Ireland 4-Yr Plan Rests On Optimistic Growth F’cast (forexlive.com)