asked the Minister for Finance the implications for Ireland of the recent monetary arrangements agreed to in Brussels.
16.
Ceisteanna—Questions. Oral Answers. - EEC Monetary Arrangements.
15.
asked the Minister for Finance if he will indicate the currency and monetary implications for Ireland on joining the EEC with particular reference to this country's ties with the British currency and the sterling area.
I propose, with your permission, a Cheann Comhairle, to take Questions Nos. 15 and 16 together.
The monetary arrangements to which the Deputy refers are an early stage in the EEC programme of action for the development of an economic and monetary union. This programme and its implications as well as the other currency and monetary implications for Ireland on joining the EEC are dealt with in the White Paper on the Accession of Ireland to the European Communities. No alteration in the relationship with sterling or the sterling area is involved.
Has the Minister presented any observations to the Community on their present proposals in relation to an economic and monetary union?
Yes. I attended a meeting recently in Brussels at which the six existing members and the four applicants were represented and during the course of which informal consultations took place. I expressed views in relation to the proposals. Since then the proposals have been put formally to the applicants for the expression of their views and the matter will be finalised at a meeting of the Six to be held in Brussels on Monday or Tuesday next.
Will the Minister circulate the contents of these proposals to Members of the House?
They have been reported widely in the newspapers.
Surely this House is entitled to some official notification not only in respect of the Minister's Department but in respect of the negotiations of all Departments. The House is entitled to prima facie copies of all proposals.
It certainly is and we should not have to depend on the newspapers.
If the Deputy regards the reports in the newspapers as being inaccurate in this regard I would consider doing as he suggests. However, I am not aware offhand that the newspaper reports are inaccurate. In fact, I think they are quite accurate. I would have to consider to what extent the general question raised by Deputy Collins might at a certain stage involve confidential proposals. I am not speaking now of these particular proposals.
I am not reflecting on the newspaper reporting but I am asserting that Members of this House are entitled to firsthand information from each Minister in respect of any proposals concerning our future in the EEC.
Hear, hear.
Any other situation would be an insult to Members of the House.
Does the Minister not realise that the monetary arrangements made recently in Brussels are in ruins already?
How recently?
I am talking about the last three months not the past three years.
I do not know what arrangement the Deputy is referring to as having been made three months ago. The only recent developments——
The Minister is supposed to be Minister for Finance.
May I answer the question, please? I have described already the recent arrangements in this regard in some detail and I have indicated to the House that I have taken part in some discussions. I have indicated also that these proposals have not been finalised yet but are likely to be finalised in Brussels on Monday or Tuesday next. In those circumstances I find it difficult to answer a question from the Deputy relating to the recent arrangements having collapsed. To what arrangements is the Deputy referring?
I am referring to the international monetary arrangements that are referred to here.
The Deputy mentioned Brussels but I think he means the arrangements that were made in Washington. If that is so, I can tell him that these arrangements have not collapsed.
They have collapsed.
They have collapsed completely.