March Blog- Yes Vote in Referendum is Vital to Ireland

I am really convinced that a Yes vote in the Fiscal Compact Referendum is vital to Ireland. It does not prevent a Jobs Stimulus. On the contrary, it will trigger a Europe wide Jobs Stimulus Package. I felt that was clear in the answers I sought and received from the French, German and Spanish Ambassadors at last week’s meeting of the Joint Oireachtas Committee on European Affairs. If we vote Yes we will have the European Stability Mechanism as a safety net or guarantee when we go back to borrowing on the IMF/EU Program. We will be given time to make the Budgetary Adjustments.

As we are in the IMF/EU Program, the budgetary limits will not kick in during that time. While we cannot and should not overtly link our negotiations and the question of the Promissory Notes in support of the old Anglo-Irish Debt, I am convinced that there will be major progress there and that a positive approach to the Referendum will greatly help.
Our future is inextricably linked with the Euro and a Yes vote is vital to this. I am certain that considerable Economic progress will visibly follow.

A very encouraging aspect of last week’s European Affairs Committee was the reassurance on our Corporate Tax Rate. It thankfully remains firmly in place.

Senator Joe O'Reilly representing Cavan & Monaghan 2010. | An ExSite website