Many of us would be thankful for Mario Draghi, President of the ECB, in that he is not Jean-Claude Trichet, the author of “those letters” which many see as the trigger for the bailout. The Oireachtas inquiry Committee into the banking crash would like to have the ECB over for a chat. Unfortunately Draghi has said that while the ECB may accept invitations from national government the ECB is answerable to the EU Parliament not national governments. So if the ECB decides to reject the invitation its over to our nine MEPs to ask the questions which the Oireachtas and most of us would like answers to.
Last week, the Budget Committee considered two European Globalisation Fund (EGF) cases, one of which was Andersen of Limerick.
Lynn Boylan the Sinn Féin MEP said: “I was particularly delighted that the amendment I introduced was also passed. My amendment will ensure that the training offered to help find or create jobs for those made redundant will not be exclusive (in the same manner as the youth guarantee was) and will include everyone, including disadvantaged groups.” This decision is to be welcomed and now sets a precedent not just for Limerick for how such funds are used.
An interesting case in the UK which may have knock on effects of the labour market here in Ireland. The UK’s Employment Appeals Tribunal are due to give a ruling on the interpretation of the EU’s Working Time Directive which also applies here in Ireland. The core question is should overtime hours generate additional holiday entitlement. If they do the cost of overtime may increase by circa eight per cent. Employees may see an immediate gain but employers are likely to reorganise work practices to reduce regular overtime work.