I will be brief. For economic, political and legal reasons, the Federal Government of Germany is very critical of the mutualisation of debt associated with Eurobonds. Perhaps it would take too long to explain that position. Our Government and Parliament must stick to the German constitution, just as the Irish must stick to theirs. Therefore, in everything we do, we always try to bear in mind the legal restrictions and constitutional provisions of member states, including Germany, Ireland and Holland. These must be the centre of attention for all of us. Therefore, I ask the Irish to watch closely what our constitutional court will decide on this issue on 28 February and, in a second ruling, in mid-March. As of today, our constitutional court has very clearly ruled out the possibility of Eurobonds. It and we believe – I pretty much concur – that with the existing European treaties, it is impossible to have mutualisation of public debt. I refer in particular to Article 126 and those following it.
With regard to what Deputy Durkan stated, Ireland's hands are not empty. We are fully convinced that Ireland is ready to and will pay every debt. We trust it will do so. When I said we believe the European Union is a union of equals, I did not mean that some countries make decisions for others. This is not our understanding of the European Union.
Many eyes are on Franco-German co-operation, with a soupçon of doubt that it wants to bully others into a certain position. That is absolutely not the intention of Franco-German co-operation; it is to structure the debate, bearing in mind our history. France is the country with which Germany had the most wars. In Franco-German co-operation, there is a much deeper sense. We try always to proceed in an inclusive way. If sometimes there is a need for readjustments, one can be sure the German Federal Foreign Office presses very much for them.
The Franco-German friendship must be an inclusive one, not an exclusive one; that is very important. If this continues, it will be to the benefit of other member states. It was important for me to come to Ireland early. I took office four weeks ago. My first trip was to Denmark, which holds the Presidency. I went also to Paris, since France is the most important neighbour. I then went to London. In these times, when London opts out in many areas, it is especially important to go there and not give those who would in any way like to leave the Union the impression that we would give them an easy way out. It is quite the opposite; we need the United Kingdom on board. All those who are in favour of competition, jobs, growth and open borders, especially in regard to open trade, will know it is important to have the United Kingdom on board. Strengthening the Single Market is also important and, therefore, it was important for me to go to the United Kingdom. Then the next trip was to Ireland. Senator Leyden mentioned the Irish Presidency. The Irish Presidency is a unique opportunity to prove again how close Germany and Ireland are. We are very close on many issues, not just on those I mentioned, such as questions of trade and our understanding of the European institutions. This closeness is not seen very often. Both Ireland and Germany are very much in favour of a strong Commission, but one which does not lose itself in detailed legislation. We are interested in a Commission that is strong with regard to implementing the acquis communautaire. That is very important. I wish other great partners in the European Union would be as close to our position as Ireland is. We need Ireland and Ireland can trust Germany to listen carefully to the political debates in Dublin and in Ireland in general.
With respect to Deputy Wallace, we disagree on the point that Germany seeks austerity and that in doing that it will kill the rest of Europe. However, if this is the perception, it is clear we must communicate better. If that was our aim, that would mean we had learned nothing from history as Germans. We can only develop and have a positive future in Germany if the rest of Europe develops as well. No other country in the European Union has more borders with other EU countries than Germany. We have the most central position, not only geographically but also due to the size of our population. We are very export dependent, so how could we survive if there was not enough purchasing power in other parts of Europe to co-operate with us? Apart from that, we should never forget that Europe is also a project for peace. Therefore, we are not thinking about austerity, but about sticking to the rules we apply to ourselves.
Deputy Durkan mentioned the Stability and Growth Pact, which Europe has discussed already. We agreed on it, but then did not respect it. The German Government did not respect it either. Nevertheless, we say today that it is important to stick to the rules, not to austerity as an end in itself, but as one element necessary to keep the common currency together.