EU Stability and Growth Pact – Oireachtas Committee to Launch Report Critiquing Proposed Reform

13th July, 2010

Report Believes Current Reforms are a “Missed Opportunity”

A new report appraising the crucial upcoming changes to the EU Stability and Growth Pact and examining what impact they are likely to have on Ireland’s economy will be launched tomorrow, (14th) at 11:30 am in the AV Room of Leinster House.

The EU Stability and Growth Pact is a major agreement which limits budget deficits in EU countries. It dictates the rules for member States of euro zone.

The report critically analyses how Ireland can regain its prosperity and security when so many policy tools such as interest and exchange rate adjustments are no longer decided at national level.

The report will argue that Ireland must now be assertive in stating that the suggested reforms of the EU Stability and Growth Pact are a missed opportunity to broaden the measures for economic success and establish good budgetary practices in EU members States including Ireland.

The report has been written on behalf on the Committee, by Senator Paschal Donohoe. Senator Donohoe and other Committee members will be in attendance and available for questions.