 Eich eif tarryd hedon yn eithaf i fy nghymru yn tiynaeth yw'r effeith. Mae cyfrifiad ymy hardness yr effeith yn ei ond, a'r eif erioed yn gallu iddynt yn hyfforddiol, gyflym yn cyfrifiad yw'r hyfforddiolaeth. Felly mae'r eif erioed yn cyfrifiad. Mae'r eif yn cyfrifiad yw'r ystod y modl ond fe yw'r eif llemawr o'n eif yn eu cyfrifiad. Mae hyf yn rhywbeth a bod yn bwysig yn fwyllgor, yn flynedd a'r cyfrifiad. Mae'n rhoi'r ffaith iawn. Mae'r ffordd yn ddim ymddangos, mae'n gweithio'r gweithio, a'r gweithio'n ddim yn ddim yn ddim yn dweud. Mae'n gweithio'n ddim yn ei ddweud, mae'n ddim yn ddim yn dweud, yn dweud, yn dweud, yn dweud, yn gyfnodig yn gweithio'n dweud. Mae'n ddweud yn gweithio'n ddweud, oherwydd mae'n gweithio, ac mae EU yn gwneud unrhyw ymddangos gyda'r transisiwn yma, yn ddesgwun o'r trafnod amser yn yrlynt, ond yn ymdweud i'r trafnod yn cymryd wrth gael ymlaen o'r dda i'r ddweud ymlaen o'r ddweud. Felly, mae gennym yn ei ddweud ymlaen o'r drefnod o'r trafnod o'r ddweud cymrydol, oedd yn ymlaen o'r ddweud o'r ddweud ymlaen o'r ddweud o'r ddweud o'r cael ysgazau lleol, o'r ddweud o'r cael eu cyfaciliadau to win new markets, that's the challenge that we are and that's commonly faced right across Europe. I think it's important to, although the stability area is obviously not in my direct field of endeavour, I think it's important, it's been common I suppose to criticise the EU has being too slow to respond and develop the policy instruments to respond to the crisis that has afflicted the euro zone. Ond yna'n ddweud yma ymlaen ymlaen i'r eu cyfnodd yn ymlaen i'r ymddangos, gan y dyma, ar y 24 yma. Felly wefhadwch o'r gyfnodd Cymru, yw'r mecanysg o'r cyfrifiad. Felly wefhadwch o'r cooedinau ffysgol sydd yn y gweithio i'r llwyffyr yn ddweud. Mae'n gweithio ar eich cyfrifio.俺all, the icy bill, to intervene in secondary bond markets. We've had the decision of the European Council to separate sovereign debt and its impact on economies from banking debt and the implication very clear for Ireland of the advantages of that. We've had the initiation of central bank supervision. We are moving towards bank resolution. Yes, there is a long a'r presidenciaeth yw yn seithio i'r cydwyl ymweld i'r cyffredin. Ond dyma'n gweithio, mae ydy'r ddydd apwylliannol yn bwysig o gweithgol, a sydd wedi cyffredinol yn ei gweithio y bod yn y gallu gwneud ymddangos ym Mhwy fydd, byddai'n cael ei ddweud yn drwy'n bwysig o'r ddylch yn y gweithio. Mae'r hyn wedi gwneud yn Ysbylfaen a Ysbylfaen, mae'r unrhyw o'r ddwyng yw ddwyng 5% wedi'n gweithio bwysig o'r 10 yr ysbylfaen. yn cael ei wneud o 10% yn 5%. Mae'r ydydd yn gwybod o'r ysgolwyddiad, sy'n ddigonol o'r gallu cael y byddiaeth a'u chesylltu a'r bydd ymlaen i'r ffordd. Mae'n ddigonol o'r ffordd, a'r ysgolwyddiad sy'n hawdd i'r brosed a'r ffordd sy'n defnyddio'r cyfrwyd ar gyfer gweithio ar y ddych chi'n oesaf yr yrliadau llodol i'r rhaid i'r pethau. Dwi'n cael ei bryd, mae'n rhoi ddim yn cael y bydd Ffiscal consolidation on banking resolution, it has been a narrow focus and I think one of the criticisms that has rightly been taken up by EU leaders is the need to move beyond that. President Van Rompuy will be consulting with all of the EU councils on new ideas like the social dimension that we need to have and the debate that's currently very strong on the area of initiative for a youth guarantee. Also on the broader future, do we need to move towards arrangements where there's both contractual and solidarity instruments to spur reform within the countries, the member states that need to make reforms that are decisively strengthening the capacity of the union to withstand the so-called asymmetrical shocks that afflict countries within a monetary union? I think that is welcome. But also I think what's really important is that at a time when government's budgets are constrained, we have to look at what is a credible growth strategy for the union. And I just pick out in my few words here four areas where I think we have a toolbox at our disposal that can drive significant growth opportunities in the future. And across the four of them, according to the European Union's own estimates, there's well over 10% of GDP capacity, added capacity of over 10% of GDP, to be derived from exploiting the opportunities in the four areas that I'm going to try to deal with. Those four areas are first one being trade, well-known for its opportunities, first degree, first class in economics, I think would be the benefits of trade, the mutual benefits of trade. The second one is market barriers. The third one is seeking to take a lead in transformative technologies. And the fourth is releasing the creativity of enterprise and particularly SMEs, as they call the small and medium and startup enterprise. I think those are four areas that offer real opportunity for growth at a time when there are budget constraints and obviously there's debate, lively debate about the balance between consolidation and so on, but I think we need to look at the microeconomics, if you like, of these four areas where there's really real opportunities. Trades, just to deal with trade first. I mean, it's the commonly calculated or estimated that 90% of the growth in trade in the coming years will be outside of the European Union. So, you know, we need to forge new relationships and new free trade agreements to open up opportunities to grow for European companies, European countries to grow and exploit opportunities in emerging markets. The commission has estimated that the benefit of various trade agreements that are available and have been targeted, represents about 2% of GDP and would represent about 2 million extra people at work if we exploit them. In terms of that, the impact on GDP and employment, about almost 80% of their projected opportunities in the free trade agreements would come from three areas, the USA, Japan and Canada. There are very significant opportunities exist there. You know, if you use export numbers, the commission estimates that a free trade agreement with the USA could add 30 billion to EU exports with Japan 25 billion to EU exports with Canada 15 billion to exports. I suppose the most significant of those in size, of course, is the US, the one area where, you know, up until now was there was no real progress in respect of trade negotiations. The other two, Japan already, a mandate has been given to the commission to negotiate. There the potential is for a 35% growth in exports to Japan, a very significant opening up of that market. Those negotiations are now starting. Canada, we're close to the end of those agreements and hopefully we can see an agreement. In its case, you're talking about a 13% growth in the EU trade to that country. But I suppose the good news that came last night is in respect of the US. And now we've had in the past week clear endorsement by the President of the United States as well as the European Council. That week, the green light has been given to negotiate a broad-based ambitious trade agreement. And I think this is really exciting opportunity and one that we in the Irish presidency will be determined to do everything possible to facilitate it. As I say, its impact on exports is estimated to be 30 billion on the EU economy. Its impact on GDP is much higher, 65 billion in terms of the static economic analysis impact on GDP, but adding in the productivity effects, you can add another 66% to that. So it is a really significant opportunity to open up trade and to facilitate change. As you will see from the high level, group, they focus not only on the ambition to end conventional tariff barriers, but also to look beneath that at the non-tariff barriers to look at access to markets like public procurement, to look at how we can have better coordination of regulations across the union, how we can have more confidence in mutual recognition of compliance and regulatory requirements. These changes can be very significant. It also looks to Europe and the US having shared positions in areas where they can collaborate. So I think it's a very exciting, the high level group is a very exciting agenda for negotiation and discussion. And I know a lot of work has gone into this by commissioner Degucht, as well as by the US side. And we're having an informal in April, an informal council, I think it's the first trade informal. And it's been very precisely targeted on this specific opportunity. We've seen in the past that it has taken a long time to move from opening up the principle of having a trade agreement, say with Japan to get a mandate finalized. That took a long time in the last process. We want to make sure that this is as short as possible and that our ambition would certainly be to get a mandate far the commission to negotiate before the end of our presidency. That's ambitious, of course, it's ambitious, but I think it would recognize the importance of US and EU trade as a channel that can address our needs on both sides of the Atlantic to create new opportunities for growth. So our informal in April will seek to bring, obviously, all the Member States together, but also in collaboration with Ibeck and the American Chamber to bring key players together to Ireland. So there can be a deeper understanding of what the potential pitfalls are. There are, of course, sensitivities. This won't be plain sailing, but I think there is now a clear wind behind the idea that this ambitious agreement is something that leadership on both sides of the Atlantic want. And I think there's a far greater opportunity to deliver if you have that, if you like top down momentum instead of trying to build up such an agreement from the bottom when all of the criticisms and the reservations become dominant. I think this is a real opportunity and we certainly want to do everything we can to support it. From a domestic point of view, of course these free trade agreements are immensely important. The US is one of the most important, the most important trade channel for Ireland. It's larger than any of the other. Larger than the UK or any of the other channels in terms of overall trade. And it's one that clearly it's in Ireland's interests to have less regulatory barriers and to open up the real possibilities that are there. The second area is to address market barriers. And I'm old enough, unfortunately, to have been involved back in the 80s with then commissioner, the UK commissioner who was driving reform, cofils, Lord Cofils indeed. And I remember the frustrations and the difficulty of the harmonisation and building the single market brick by brick. And that has continued to be the challenge. But I think it's important to understand the real opportunities. The full application of the services, free competition in services, represents an opportunity of 2.5% of EU GDP. The single market since 1992 has delivered 2.1% extra in GDP, 2.8 million extra jobs to the union. So this slow painstaking work, which we will take on under the single market act initiatives, single market act one and single market act two, we are determined to deliver as much as we can. It's slow, it's painstaking work, but there are significant areas within our grasp, professional qualifications, public procurement, posting of workers, e-signatures. They're all, if like dossiers, that we believe are at a mature state that we can hope to deliver in the course of our presidency. And I think that continued determination to open up our markets to get the benefits of the specialisation, the growth dynamism that that can give is something that we are determined to seek to deliver and it is a key part of our presidency in delivering in the single market act. The third area that I think is really important is seeking to take a lead in key areas of technology. I think the figure is quotious, I can't remember the source, but I think it's an EU source reliable that where EU spends about one third of the money on research in key enabling technologies, we generate only one sixth of the commercialisation. And I think this clearly, correcting that imbalance between what we put into research and what we get out of the other end in terms of commercialisation, start-up jobs, exports, is a real challenge for us. And I think it's vital that we get our act together in this area if we're to lift performance, EU performance, and indeed our own performance, which mirrors that. The will in the course of our presidency, we hope to form and be involved in the formation of a grand coalition for the ICT sector. Many of you will know that there is an estimate now that there will be 700,000 jobs unfilled in 2015 in the whole ICT area. These are professional people who are bringing, if you like, the capability of ICT to transform not just the ICT sector, but many other sectors. I read a book recently, a guy called Moretti, Enrico Moretti, who's writing in the States, one of the United States universities. And his estimate is that for every one such job in ICT, in that, you know, leading edge ICT, there are five jobs elsewhere in the economy generated by such, you know, key enabling talent. So when you think of 700,000 jobs left unfilled and the impact that that has with that sort of a knock on, you can see that there is a gaping gulf that we need to address. And Ireland has, you know, I think it's heartening to see Ireland is moving ahead of the posse and the sort of initiatives that, you know, we have taken both in collaboration with Rory Quinn to double our output of graduates in this area to use conversion courses to bring people who are qualified in other areas into the ICT field. But, you know, delivering in that area is a real opportunity. We hope also to sign the unified patent. This has been something that I think has hampered. It's made it more costly for people to have patents when you have to sign them in different countries, in different languages and so on, and when you don't have a unified enforcement system. So this is a real opportunity. We also plan to debate the whole issue of copyright modernization. I think this is a key area. It's a very controversial area, but I think people recognize that copyright law needs to catch up with the opportunities that are being created in the digital economy. And, you know, we are handicapping the creativity if we don't find a new, you know, modus of a operandi between those who create, who are creative and create content and those who use it. And I think, you know, that's really an area of challenge that will continue, you know, for a long time. Research budgets are also very important. And I think it's significant that the MFF, while we don't have the detailed agreement yet, it's significant that the 125 million that was set aside for areas of growth, education, research and innovation, that has increased by 27 percent, 34 billion, compared to the last framework. So there is a genuine focus on this area. And I think we need to make sure that, you know, those research budgets are more focused on delivery. And just as Ireland has in the last number of, you know, in the last 18 months, we've been focusing our research on areas of priority that can really deliver returns and trying to make our system more commercialization friendly. I think the same challenges will face the EU in its investment and there's the same ambition to use this powerful research budget not only to create excellence in terms of knowledge, but also to create the opportunities to commercialize it. And clearly, you know, areas like the digital market and exploiting that is key to opening up the opportunities that technology deliver. Again, the estimates are that the digital market could add 4 percent to GDP if it was fully exploited. And we need to build the infrastructures, the policies and the legislative framework to allow that to happen. I think Ireland, you know, is probably again, you know, relatively ahead in this field. But, you know, at 23 percent of our businesses trading online, it still leaves, whatever, 77 percent who don't. I think it is a tool that can transform businesses. It has shown to double the rate of growth of businesses who do use, you know, active trading online. Similarly, active, you know, interaction with government through e-mechanisms can greatly reduce, can greatly reduce cost. We believe in Ireland that, you know, technologies like Big Data and the analytics that underpin that are going to open up huge opportunities. They're transforming the sort of business models that will survive and grow in the future. And there's an immense agenda here that, you know, the EU has to facilitate in its legislative framework, as well as the sort of commitments it makes in its research commitments. And I'll be working obviously with Sean Sherlock, who chairs the research council, to make sure that we get the best out of that. It's encouraging already to see that, you know, small and medium enterprises, its share of those research budgets is going to go up from 15 percent to 20. And that brings me to the final theme that I mentioned, and that's, you know, releasing the creativity of enterprise. SMEs across the union employ about two thirds of all, all people employed in Europe, and it's not any different here in Europe. Commonly, it's believed that these, that small and medium enterprise generates about 80 percent of the job growth. It's predominantly the small and the startup and the growth companies that generate the employment growth, not the larger established ones. And it behoves us to look at the startup environment across Europe at access to finance, which in many countries like our own, the difficulties that the banks have faced have created huge problems in access to finance for small and medium enterprise. And, you know, it's important that we deliver the ambitions that have been set out in programmes like the Cosmi programme, which, you know, obviously under Commissioner Tejani, the new ambitions of the EIB to put more capital into this area and to develop new instruments, the new microfinance programmes that are going to be funded under the MFF. Clearly, these are real opportunities and we will be holding a forum on access to finance across the union for SMEs with Commissioner Tejani to look at, you know, how can we get better models? Some of those are obviously going to be traditional bank models, you know, evolving the sort of financial instruments to a more export-oriented union, but some of them are going to be new financial models and, you know, non-bank financing that we need to develop and have been traditionally behind the curve in venture capital and so on. The EU has been behind the curve. There are other changes that I believe will also be significantly important to small and medium enterprise that can, you know, by being dynamic at European level, we can make it easier to build and grow. For example, the modernisation of the state aid mechanisms with the state aid rules by bringing down, for example, a higher de minimus, so it's easier to support startups without a lot of, you know, regulatory drag. Opening up public procurement to SMEs is another part of the single market that we hope to make real progress on. That represents almost 20% of EU GDP. You know, there are opportunities by bringing down barriers, making it easier to tender for SMEs to penetrate that. Clearly, there's a continuing agenda around regulation and regulatory burdens that the EU will be taking up in our presidency and we hope to see the Commission publish what will be the successor to their last set of targets, which was to bring down administrative burdens by 25%. The next successor to that is eagerly awaited, where we expect, you know, 10 key areas that create the most difficulty for business will be identified and we will seek, you know, the Union will seek to address those areas. It's not just unlike what we are doing at home here with, you know, our now focus on licensing in the retail trade taking just one sector to seek to rationalize the burden of compliance with licensing. We have far too many licenses and far too many portals through which people need to go to comply with our licensing requirements and we need to reform those here at home just as the EU does. So I think, you know, to summarize and conclude, the EU is in a difficult crisis but I think it's showing new sources of dynamism. We're not there yet, but I think, you know, between the areas that I've mentioned trade between opening up the markets that we already have, seizing real opportunities to take a lead in key technologies where Europe has the capacity to take a leadership role and needs to align itself better, releasing the creativity of small and medium enterprise that are the key drivers. I think there's a lot we can do to drive a new growth-oriented Europe and I think, you know, the thesis has from the very outset have been determined that, you know, one of the characteristics of this government will be to bring that broader employment objective to the very core of public policy. We've done that domestically with our Action Plan for Jobs, which is a time-based, closely monitored instrument for keeping focus right across government on the central challenge of employment. I think it has been a very effective tool within Ireland. And I think, you know, the theme of our presidency is really to get that same sort of cross-governing government thinking about the core challenge which is for Europe, which is the employment challenge with, you know, so many young people, 26 million, all people out of work, very high unemployment rates among young people. You know, the importance of the growth and jobs theme is absolutely central to Europe's future. And as, you know, the President of the Commission said when he visited Ireland recently, Europe's credibility is under scrutiny here and, you know, our capacity as a union to deal with the broader challenges that our people are facing is going to be central to, you know, the political momentum behind the union that has been such an important and transforming influence in European politics, economics and society over the last 50 decades, the five decades. So I look forward to taking whatever questions or comments you might have, which I will deal with to the best of my ability. Thanks very much.