The Oireachtas sub-committee on the fiscal stability treaty has been hearing submissions from European and social groups this afternoon.
Bríd O'Brien of the Irish National Organisation of the Unemployed said at a time when Ireland should be looking at enshrining social rights in its constitution, it was looking at proposing an amendment to copper-fasten austerity.
Ms O’Brien said Europe should be looking at giving social and fiscal policy equal gravitas or else inequality will widen.
MEP Marian Harkin agreed with Ms O'Brien that the treaty did not seek to achieve this objective, which she agreed would be a desirable path for Europe to follow.
Brendan Halligan of the Institute of European Affairs said the UK's decision to abstain from signing the treaty raised questions about its future as a core member of the EU.
He said Ireland’s decision or not to remain at the core would have economic and political implications.
Declan Ganley of Libertas has described the treaty as a 'Tutonic tonic' for countries such as Ireland.
Mr Ganley said it was all carrot and no stick and it was time to stop kicking the can down the road.
He said it was time to just get on with federalising Europe and its debt and issue eurobonds.
Mr Ganley said the treaty was akin to giving morphine to a cancer patient and he said the biggest deficit in Europe today was a deficit in leadership.
Cllr Andrew Muir of the Alliance Party told the committee that a Yes vote would give confidence to the markets.
Chairman of the Green Party Roderic O'Gorman said his party would be taking a vote from its membership on the treaty.
He said there were a number of issues that were not addressed by the treaty that his party would like to see dealt with, such as a firm position on the issuance of eurobonds.
