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THE GOVERNOR OF the Central Bank will discuss the future course of the economic and monetary union (EMU) in front of the Oireachtas Committee on European Union Affairs later today.
Patrick Honohan will appear before the committee this afternoon to discuss the future course of the EMU and its implications for Ireland.
Honohan’s colleagues from the bank, Patrick Brady, director of policy and risk, and Colm Larkin will also be present.
Economic and monetary union is an umbrella term for policies aimed at converging the 27 EU member states towards closer cooperation such as sharing a single currency as Ireland and 16 other EU states do.
In a statement yesterday, EU Affairs committee chairman Dominic Hannigan, said the committee was looking forward to speaking with the governor.
Hannigan said he expects to discuss with the governor and his colleagues the current approach of the European Central Bank which has kept its main interest rate at 0.75 per cent for nearly a year.
Hannigan, a Labour TD, also said he expects discussions to focus on “whether policy is likely to change, particularly in light of continuing debate on growth and austerity in Brussels and a number of European capitals”.
Today’s meeting forms part of the committee’s “on-going consideration of Economic and Monetary Union”, Hannigan said.
The committee hearings gets under way at 2pm this afternoon. You can watch proceedings here.
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This is the issue when another business gets involved ie a union, that feels it has to do something to keep its members. They could be on the best terms and conditions and payment in the planet and you would still have issues with union involvement … I think Ryanair were wrong to recognize them …
@Shane Zerbe: They recognised the unions because pilots were already striking. There’s a number of large European low-cost airlines (Norwegian, Easy Jet, Wizz Air, some traditional / flag-carrier airlines) that now provide better pay & benefits than Ryanair for pilots and crew.
If they were willing work with their staff to bring in better pay / conditions then the unions wouldn’t be needed or asked for. They last thing they want is all their pilots to start moving over to other airlines. Emirates is a good example of an airline that is struggling with big pilot shortages over bad pay / conditions and is now badly suffering and having to cancel many flights/routes because of it.
@Shane Corry: yeah that’s the free market working the way it should. There’s no need for union involvement. They’ll end up destroying the airline by going too far. The lunatics always end up running the asylum.
From what I read there is a shortage of pilots worldwide. Why don’t the Ryanair pilots just leave and take a job elsewhere. Surely if there demands are reasonable the other airlines will have no problem in paying up.
@Dave Doyle:
Lots of them did, which is precisely why those that remained were in a strong enough position to demand union recognition from Ryanair.
@Dave Doyle:
“Why don’t the Ryanair pilots just leave and take a job elsewhere?”
They do. Norwegian for example (The biggest european low-cost airline operating the same aircraft type as Ryanair) has been actively poaching many pilots which has partly led to the situation they are in now.
@Shane Corry: Norwegian has failed to return a profit in the last ten years, great to work for though. Long may it continue.
I love Ryanair. I get cheap flights, they arrive on time. During the ash cloud crisis, went to Alicante for 4 nights ended up staying for 12. They paid for my accommodation and food for the extra 8 days we stayed there. Also, Knock airport didn’t charge me for parking my car for the extra days I was away. One of the best holidays, I ever had.
@Maggie O’Sullivan: my flights weren’t cheep, over 1380.00 for 4 of us. If they strike Thursday I hope they treat us like they did you. Here’s hoping.
@Maggie O’Sullivan: I agree completley. People have short memories. Before Ryanair, Aer Lingus had a monopoly in Ireland and were charging extortionate airfares. I remember paying £250 for a flight to London on a cold October day over 30 years ago. The reason the likes of Aer Lingus and BA now have half reasonable airfares is because of Ryanair putting pressure on them. Before Ryanair, only the rich could fly and it seems like many people want to go back to thoes days. I’ve been able to travel all over Europe because of their low fares but some media outlets are even trying to blame Ryanair for cancelling flights because of the french air traffic controllers going on strike. Some people just love complaining.
@Lily: I hope they do!! I’ve never had any faults with them.
@Tom O’Brien: thanks Tom. It’s not even the cheap flights, the passengers bring alot of revenue to other countries which is badly needed. Long live Ryanair, I say!!!!
@Maggie O’Sullivan:
They were legally obliged to pay for your accommodation and food. They fought it every step of the way though.
Hopefully the unions will destroy Ryanair, the company has simply gotten too big for its boots in our socialist republic.
Oh no how will them poor Spanish and Portuguese holiday makers get to costa del Bunmahon now
@liam mc laughlin: bitter much?
@EvieXVI: Get humour much?
I hope Ryanair go bust because they treated me and my family very badly a few years ago.
I am trying to bundle with eir last month or so emailing calling they meant to send me sim card to switch. Every time they to call me back nada. One rep even pretended he d a bereavement to avoid me switching. 180 a month between the 2 bills versus 106 to include mobile in bundle. Any recommendations re leaving eir comreg options etc.
Oh no, how will them poor spani
@liam mc laughlin: Well done Liam
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