The Fine Gael leader, Mr John Bruton, has called on the EU to set up an emergency "Marshall aid" fund to rescue Russia from economic and political chaos.
He suggested that the EU was ideally placed to put a support programme in place - a "Partnership for Russia" - working in parallel with the defence-related "Partnership for Peace". It would help put the political, legal, economic and social conditions in place to develop a fully functioning state.
Saying the grave problems of Russia were of far more importance to the world today than the Clinton scandal. Mr Bruton said in a statement yesterday that the US helped western Europe to develop a mixed economy through the Marshall plan in 1948. It was fitting that western Europe should now put a Marshall plan in place for Russia.
The debate occupying prime time space on our television and radio stations should be the economic implosion of Russia rather than the Clinton scandal. "We should be talking about Europe living up to its responsibilities by providing a Marshall aid-type plan to rescue Russia from economic and political chaos."
Mr Bruton said the problems in Russia were far too serious to be sidelined. "Here we see the collapse of a currency. But we also see the potential collapse of a political system because, without an accepted currency, there is no basis for tax collection."
If Russian republics adopted an "each republic for itself" approach, the Russian federation would break up. This could be very dangerous for Europe.
"The task facing Russia today is nothing less than the rebuilding of a viable state government," he said, adding that he did not believe that financial institutions such as the IMF or the World Bank had everything necessary for this task.
