- Madam President, I would like to begin by congratulating my friend and colleague, John Hume, for all his unceasing efforts to promote peace in Northern Ireland. Without John Hume's work we would not be in the encouraging position we are in today. On behalf of the European Parliamentary Labour Party I give John Hume my sincere thanks.

All of us in this House are united in warmly welcoming the IRA's cessation of violence. We sincerely hope that now we have the basis for a permanent peace. Now also is the time for political dialogue and reconciliation between all sections of a community north and south of the border. It is also the time for us to make a real effort to reconstruct the social and economic fabric of Northern Ireland. We need to recognize that if we are to create jobs and improve social conditions in Northern Ireland we need to find additional financial resources.

Before long it will be possible, I hope, for the British military presence in Northern Ireland to be substantially scaled down. When that happens the resources which will be freed must be used for the benefit of the people of Northern Ireland. When it is accepted that we have a permanent peace, then a peace dividend has to be utilized.

But the European Union also has a responsibility in this respect. I would hope that extra EU resources will be freed to underpin the peace process and to create a new economic prosperity in Northern Ireland. I hope, however, that the Council of Ministers will not seek to take resources away from the Community initiative reserve fund which has been set aside for regional development work in other parts of the Union. What must happen is that the Council, the Commission and the European Parliament need to come together to find a way to access new resources.

Could I say that I believe the path towards peace will be a long and arduous one, but I am more confident now than at any previous time. I believe that confidence is shared by many people throughout Britain, Ireland and the whole of Europe.