It must be a YES vote

  • The purpose of the Treaty which we are being asked to approve on May 31st is to provide stability in the Eurozone, and commit to rules that will stabilise the Eurozone and prevent a recurrence of financial and economic crises.
  • The referendum is critically important for Ireland, and for Irish tourism.  What’s simply involved is the endorsement of a fiscal pact which formalises the commitments we and other Eurozone members already signed up for in the Maastricht Treaty 20 years ago.  Regrettably, Ireland together with several other member countries did not always observe these commitments.
  • Signing up for the pact will ensure a more stable economic environment within the EU.
  • Just imagine for a moment how different things would be today if the compliance rules which were signed up to in the Maastricht Treaty had been observed.  Remember the glib remarks like “when I have it I spend it“.  Such indifference helped get us to where we are today.  A generation has been devastated; immigration has been replaced by emigration, while negative equity haunts the land for hundreds of thousands.
  • A YES vote offers the best chance there is of steady recovery.  It will provide an oversight mechanism to ensure that each Government in the Eurozone does not spend recklessly in the future.  In addition it provides insurance that Ireland can access to the European Stability Mechanism should we require loan facilities in the future. We all owe that to future generations.
  • It is evident across Europe in recent weeks that there is a major shift in political opinion favouring measures to stimulate growth and employment.  Just the news we need to hear, and in truth news which has been influenced by quiet diplomacy through Ireland’s commitment to, and support for, the fiscal pact.
  • There is a big communications job to be done by Government and all those who advocate a YES vote, in explaining the issues fully to those who genuinely do not understand them.  But there is also a burden on those of us in business to communicate with all those in our spheres of influence that Ireland’s prospects for recovery are immeasurably enhanced by voting YES.
  • A YES vote will provide the best prospect of recovery for tourism. Ireland’s reputation and competitiveness across Europe – Ireland’s top source market for visitors – are essential conditions if we are to continue to attract more visitors.
  • A YES vote offers the best prospects of a stable business environment. We all need a degree of certainty as to our key cost inputs – cost of labour, interest rates, inflation, etc. The fiscal pact will provide a more benign business environment and speeds up the prospect of returning to the bond markets at an affordable interest rate to fund our enormous, even if declining, deficit.
  • As Ireland’s tourism begins to recover it is apparent that the prospect of a steady recovery is best assured by a YES vote rather than the uncertainty and the uncharted economic and business environment that would result from a NO vote.
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