Jan 12
11
Rehn is right: Irish economy needs breathing space, says Harkin
MEP Marian Harkin
Sligo based Independent MEP Marian Harkin has challenged EU Economic Affairs Commissioner Olli Rehn to provide concrete assurances that restructuring economies such as Ireland’s are given adequate breathing space in the coming years.
Speaking at a European Parliament conference on solutions to the Euro crisis, Harkin openly challenged Commissioner Rehn’s assertion that the austerity measures currently imposed on Ireland “were paying off”.
”How exactly are they paying off,” asked the Ireland North & West MEP, “when Ireland’s GNP has decreased for the last 4 years; when unemployment remains sky-high; when Irish debt has yet to peak and exports remain fragile?”
Breathing space for consolidating economies “Unfortunately, the Commissioner provided no adequate responses to my questions. Nonetheless, he did state on the record that ‘countries currently involved in fiscal consolidation need breathing space’ – and on this point I would wholeheartedly agree,” she noted.
”However, in such a precarious economic climate talk is cheap, and if the Commission is sincere about playing a part in returning the Irish economy to growth and making us a genuine success story for the post-crisis era, Commissioner Rehn must provide a tangible meaning to the phrase ‘breathing space’.
”This means a greatly extended period of repayment for the Irish debt and a significant decrease in the interest to be paid, alongside growth-promoting measures’ Harkin said.
”Unfortunately, I am not holding my breath for such an outcome,” the Independent MEP concluded.
