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FG TD calls says that staying in euro" could mean end of the states fiscal autonomy" - Examiner

Under the by-line of Mary Regan and the Examiner's EU Correspondent Ann Cahill and the heading “Decision to stay in Eurozone needed soon: FG TD”, there is a report to the effect that Dublin South East TD Eoghan Murphy has said that staying in the euro “could mean the end of the state's fiscal autonomy”, while exiting could signal “the beginning of our economic recovery”.

The report quotes Murphy, who the report says is “a former speech-writer in the UN”, as saying that the choice between EU Commission President JM Barroso's vision of closer euro integration as being necessary to save the Euro project or leaving the euro will be “the biggest decision ever taken by the state”.

'In a post on his web-site the first-time Fine Gael TD said that the country “could be faced with a choice in the near future in relation to our participation in the eurozone – a should I stay or should I go moment. Now going would be trouble. But staying could mean the end of the State's fiscal autonomy.”

The choice could be between staying in the euro and “giving up part of our political independence for good.”

If closer fiscal integration was chosen as a means of saving the euro then “how much tax we (raise) and how much we spend would no longer be in our control.”

It would involve “giving up national control of what we spend and how we spend it” and “the Taoiseach and Minister for Finance would report to a committee of other world leaders and be directed by them.”

Exiting the euro would mean “a lot of people will lose a lot of money” but “it wouldn't be the end”, he said.

The same paper carries a lengthy feature article on its page 12 by former Fine Gael Minister and current Newstalk 106 presenter Ivan Yates calling for German Government support for an “orderly” leaving of the euro by the Irish State.

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This document was last modified by Mick Carty on 2011-11-23 08:28:06.
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