Europe must deliver for Ireland and “break the toxic link between sovereign and bank debt”, according to Independent MEP Marian Harkin.
Ms Harkin added that while Ireland's EU Presidency aims to deliver results for the 27-member bloc, Europe must likewise deliver for Ireland.
Speaking after Taoiseach Enda Kenny's address to the European Parliament, Ms Harkin wished him, his ministers and his officials well as they work to deliver a Presidency focused on results.
However, the Ireland North and West MEP noted that “the challenge is huge”.
“The core issue is the slipsliding and backsliding by the European Commission and Council on the crucial issue of fully and finally breaking the toxic link between sovereign debt and bank debt,” she added.
“Many speakers have mentioned Ireland's recovery, including President Barroso, who noted that Ireland's deficit is lower than predicted. However, he didn't say that despite our best efforts, our debt-to-GNP ratio will reach 150 per cent by the end of the year, and our youth unemployment is at 30 per cent, while our greatest export continues to be our young people,” Ms Harkin pointed out.
“If we don't get a deal on bank debt within the context of a European solution, we cannot exit the bailout this year, and our economy will grind along the bottom,” she warned.
Ms Harkin challenged Mr Barroso to keep his commitments of “solidarity and fairness” which he spoke about in his speech to Parliament.
