Honorable Justices, Ambassador, Ladies and Gentlemen, Friends of Ireland, a Chairde
I’m delighted to be here with you today in Philadelphia .
My first visit as Taoiseach to this beautiful city
I had hoped to be accompanied this morning by one of Ireland’s most loved sons – one Sam Maguire - but unfortunately the Donegal GAA team had other ideas in Croke Park recently.
There’s something about this city of Philadelphia
It’s a city of clarity light .illumination ..
Right now there’s the magnificent three-D installation OPEN AIR, out on the Benjamin Franklin Parkway.
And that light ..lit, made and shaped . by thousands of Philadelphians is a symbol of the light of liberty, democracy .. what it means to be a citizen
Each and all of these synonymous with Philadelphia and its geographical, political and cultural heart.
Proclaim Liberty throughout all the land .. unto all the inhabitants thereof ..
Not just inscribed on the Liberty Bell .. but on the hearts of those who signed the US Constitution here in Philadelphia in 1787.
Imbuing history, politics and democracy through the world .with the possibility of
Domestic Tranquillity . promoting the general Welfare . and securing the Blessings of Liberty . herself
And with the pure potentiality .. of three .. spine-tingling words ..
We the people.
And it is our respect for our faith with ..our responsibility to that idea of we the people that bring us all here today.
And indeed, at this stage I should thank a very special group of people ..the various Irish-American groups in Philadelphia for their work in encouraging and facilitating closer social, cultural, economic and of course judicial links with Ireland.
I’m delighted to see again all who I met in Mayo last year at the first US/Ireland Symposium organised by the Brehon Law Society.
And I am even more delighted to hear of your continuing outreach to some of the most prestigious Third Level institutions in the Philadelphia region
Villanova ..Temple Drexel Rutgers School of Law.
Irish Economy
Back at home, we’re well on the path to economic renewal. The journey will be long… and challenging, but we’re equal to it.
Last year .after long stagnation . the Irish economy returned to growth.
And I think that word is going forth across America and across the world that in Ireland now . there’s a government prepared to make the hard choices the tough decisions .
First .. always . in the people’s interest ..the country’s interest.
On taking office, our initial focus was on restoring financial stability in the public finances, in the banking system and whilst still too high, we have stabilised the unemployment rate.
Our policies are designed to achieve that essential balance of consolidation and growth.
Under the terms of the EU/IMF Programme, the Government is committed to reducing the deficit further – the latest data show we are on track to achieve this year’s target of 8.6%.
As an open trading economy, our exporting sectors are leading the recovery with exports now above pre-crisis levels.
Indigenous sectors such as tourism and agri-food are performing well, and we saw record number of new investments won in 2011.
Our balance of payments has returned to surplus, meaning that Ireland is now paying down the debts incurred during the credit-boom.
Our economic strategy and performance enjoys the confidence of our official creditors, the public and, increasingly, of the financial markets.
One of the most dramatic changes we have witnessed over the past year has been the shift in Irish sovereign bond rates.
In July 2011 our 10 year bonds were being traded at rates over 14%.
Today they are under 5%.
There’s no miracle there. We are ‘trading our way’ to recovery – the only sustainable way in the long run.
Looking to the future, the outlook is for a second successive year of positive growth with GDP forecast to grow by 0.7% this year.
Ireland has learnt the right lessons from the crisis - that sustainable jobs and prosperity cannot come from public or private indebtedness, but only from hard work, thrift, enterprise and entrepreneurship.
We do not want to be seen as the best hope of the eurozone countries that have been bailed out, but rather as bright a light for the entire European and global economies.
That is why my personal vision is to re-build Ireland's reputation as the best small country in the world to do business by 2016 - the anniversary of the rebellion that led to the foundation of our state.
US-Ireland Investments
One of Ireland’s core strengths has been our long and warm relationship with America.
As you well know .. we’re not just friends we’re family.
And family stands together they stand by each other .when things are tough.
That’s what America has done for Ireland.
And when you look through that family album of hope and history and generosity be it in an attic in Boston .. or on the side-table of a busy boardroom in New York . or walking down South Street here you will see that America is central to Ireland’s recovery.
As the only English-speaking country in the Eurozone . Ireland has long been attractive for US firms seeking access to markets and new platforms for their products.
Ireland is the gateway to an EU market of 500 million consumers
Europe – and Ireland in particular – is proving an excellent platform for exporting onwards into the broader region including North Africa and the Middle East.
But as in all healthy relationships America and Ireland are not co-dependent – we’re interdependent.
The transatlantic trading and investment relationship is healthily balanced to our mutual benefit.
Right now, US firms in Ireland employ 100,000 people and benefit from our expertise in particularly strong clusters ..such as the life sciences and pharmaceuticals, clean technology and financial services.
Increasingly Ireland is the top choice for global companies, many of them American.
We now have 8 of the top 10 ICT firms
9 of the top 10 pharmaceuticals
15 of the top 25 in medical devices,
More than half more of the world’s leading financial firms
the top ten born-on-the-internet companies
3 of the top 5 gaming companies and in a sector which I know is also important for Pennsylvania, we also attract investment from the leading food and drinks companies.
For companies making investment decisions, Ireland offers a winning-value proposition, based on the Four Ts = talent, technology, track record and tax.
Ireland remains a flexible, adaptable economy with a pro-enterprise environment, consistently ranked in the Top 10 by the World Bank for ease of doing business.
Over the last 20 years, American investment inflow to Ireland is well in excess of comparable flows to Brazil, China, India and Russia.
And it goes two ways…In 2011, Ireland’s FDI stock in the US was $25 billion – only eleven other countries have a higher investment stake in the US than we do.
I was pleased to see you dedicated a full session yesterday to doing business in Ireland.
While the macro figures I’ve outlined above highlight the US-Ireland economic relationship, it is the decisions taken on foot of discussions like yours yesterday that bring it all to life.
GAA
And something else that brings us all to life in such a vivid and engaged way is sport.
I always say here in the US – that ours are the ‘genes’ that built America
And in deep and long those genes is the GAA. I know what a major role the GAA plays in the life of this city and the Irish community.
And that the largest annual Gaelic Football competition in the world – the Continental Youth Championships – will be coming to Philadelphia next year with over 2,000 young people under the age of 18 taking part.
I know too that there are thousands of would-be Riverdancers, harpists and sean-nos singers all over this city and all over America.
The GAA Championships, which will involve over 10,000 people from all over the States travelling to Philadelphia, will be a tremendous showcase for Ireland.
I wish everyone involved every success in their efforts.
Immigration Centre of Philadelphia
Later this morning, I’m looking forward to meeting some of the seniors of the Irish Immigration Centre of Philadelphia .I prefer to call them our ‘elders’ .. together with representatives of some of the other Irish groups in the city.
It’s a testament to who we are as a people – across the world – that wherever we are ..we look out for and after our own.
I’m delighted to be able to say to the Center that even in these difficult times for Ireland we are continuing to give them our financial support.
As our ‘elders’ these men and women have a lot to teach us. And I’m looking forward to hearing what they have to say when I meet them later.
Conclusion
It’s really going to be a busy morning because later, I will also perform the official opening of the Philadelphia office of Zenith Technologies, which is providing world-class automation services to the life-sciences industry.
Philadelphia is a natural choice for Zenith and Irish companies to locate their US operations, for many of the same reasons why Ireland is the European location of choice for US companies.
Location, access to market . good people.
It helps also that there is a supportive eco-system which the Pennsylvania Commonwealth has nurtured.
Distinguished members of the judiciary, Ladies and Gentlemen, before I leave may I say how much I appreciate the opportunity to join you this morning on Day Three of your important symposium.
I have been assured by Judge Waters, President of the Brehon Law Society that you have been working hard over recent days. I look forward to hearing details of the outcome of your deliberations and to welcoming you all to Ireland for next year’s big event.
Let me mention something special to you. The Gathering.
It’s a year-long occasion when we invite our family and friends across the world to come ‘home’.
It will be one almighty party . that will run all year.
Today, I’m extending a personal welcome to you and yours to join us at some point – or several - throughout the year.
Host a replay of the Ryder Cup on one of Ireland’s glorious golf courses.
As you well know Brehon Law was ahead of its time.
Its emphasis on gender equality, restorative justice and indeed the environment made it something both precious and extraordinary.
Today . Ireland itself is still precious our people still extraordinary.
And as Taoiseach . here in Philadelphia I am proud to say that for all of us..
Because in our hearts we know that… all endeavours must be and are . always for and always about . those three words .. we the people.
Thank you.