Eamon Gilmore
Question:27 Mr. Gilmore asked the Minister for Industry and Commerce if he will outline the implications for industrial development and job creation policy of the Maastricht agreement; and if he will make a statement on the matter.
Written Answers. - Maastricht Agreement.
By continuing and deepening the development of the European Community, the agreement at Maastricht on draft Treaties for Economic and Monetary Union and Political Union will support the development of Irish industry and services through the open, competitive trading stance we have adopted since joining the Community. Economic and monetary union in particular has potential benefits for manufacturers and exporters through providing price stability and the basis for further economic growth in Europe. The success of the economic measures will, of course, depend on many factors, including the speed and effectiveness of the transitional arrangements, the contribution to cohesion, and the economic disciplines exercised by the member states, including in our own case controls on the public finances.
Following the Maastricht Summit, the member states have agreed a number of measures to promote economic convergence and cohesion, with the over-riding consideration that these measures do not bring about distortions in competition. These will underpin our own national efforts to develop our industry and create the basis for the generation of employment.