Dermot Ahern
Ceist:66 Mr. D. Ahern asked the Minister for Finance the plans, if any, he has to stimulate a critical analysis of our full entry into economic and monetary union; and if he will make a statement on the matter. [5456/96]
Written Answers. - EMU Analysis.
As the Deputy will recall, the Treaty on European Union, which sets out the provisions relating to economic and monetary union, was the subject of a referendum in Ireland in 1992. A White Paper on the Treaty, which contains a chapter on Economic and Monetary Union and its implications for Ireland was published in advance of the referendum.
I announced last November that I had decided to commission an independent study of the economic, employment and sectoral implications of Economic and Monetary Union for Ireland. The Economic and Social Research Institute has been appointed to carry out the study, which is to be completed by 30 June 1996; and I have already indicated that its findings will be made public.
In addition, the National Economic and Social Council, on which the social partners are represented, is preparing a follow-on report to its 1993 report A Strategy for Competitiveness, Growth and Employment. I have no doubt that Economic and Monetary Union will figure prominently in the Council's preparation of this report.
In view of the importance of Economic and Monetary Union I wrote earlier this year to the chairman of the Select Committee on Finance and General Affairs, offering to make a presentation to the Committee about Economic and Monetary Union. The committee accepted my proposal and an initial hearing took place on 7 and 8 March. The committee indicated that it will return to the subject later in the year.