Belfast Telegraph

EU deal 'won't solve debt crisis'

The European summit deal alone will not be enough to resolve the deepening debt crisis, a Government minister has claimed.

Leo Varadkar, Fine Gael transport minister, also warned events would likely overtake leaders in the coming weeks.

Demanding the European Commission seize more control, Mr Varadkar said a push, particularly by France, towards an "intergovernental union" was not in Ireland's interests.

"I suspect events will overtake us over the next few weeks," he told RTE Radio One

"Fiscal co-ordination is a good idea, and it's good that's happening, but it's not going to be enough to solve the problem that we have."

Mr Varadkar said the European Commission had been "downgraded" since the Lisbon Treaty.

He also called for the European Central Bank to take on a different role in the crisis.

Seperately, Tanaiste Eamon Gilmore said he would be surprised if Britain was not involved in talks about greater fiscal union across Europe in the coming months.

Mr Gilmore, also foreign affairs minister, said Britain's isolation was not in the interests of Ireland, and discussions would take place between London and Dublin on the pact.

The deal struck in Brussels last Friday, involving 26 of the European Union's 27 countries, is to be debated in the Dail this week.

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