Monday, April 30, 2012

Ireland: Five Reasons to Vote YES in referendum on the European Stability treaty-2012

(1) If you want to help save the Euro Vote YES. A NO vote in Ireland will have serious implications for the value of the currency in your pocket. This is part of a process to save our currency-The Euro. It is essential that we vote YES.

(2) If we vote NO we will be unable to access funds from the EU in the likely event that we can’t borrow on the bond markets. If we vote YES we can access those funds if necessary. Remember we are running a huge BUDGET DEFICIT of 15 billion Euro. A No vote means that we will be cut off from EU funds and will result in horrific cuts ( up to 30%) in Pensions, Social Welfare, Salaries, Health and Education in 2014 as we will be short 15 billion Euro to fund them . The collapse in purchasing power would spill into retail and the general economy and lead to job losses in the HUNDREDS of THOUSANDS. I do not exaggerate. If 15 billion euro is taken out at the stroke of a pen its over for Ireland. The economy will collapse in a week when our current funding runs out in 2014. It is laughable to read where the leader of a retail union is urging his members to vote NO. A NO vote will cost his members thousands of jobs in 2014 as we will be unable to fund pensions, social welfare, public service salaries, health and education. Purchasing power in the economy will drop by one third overnight in 2014 unless we vote YES. The US Chamber of Commerce in Ireland has asked for a YES vote. It has emphasized that it is essential. I have no doubt that workers in multinational companies will vote YES to safeguard their jobs. They would be mad to do otherwise. Similarly ICOS which represents the agricultural co-ops has come out strongly in favour. They have been joined by the IFA and Tourist interests. The Small Firms Association is advocating a YES vote. They represent 200000 small businesses and 655000 jobs.

(3) Much has been made of the fact that we could vote NO and access funding from the IMF. This is not a solution in the event of a NO vote as the IMF would not be prepared to fully fund Ireland. In addition there would be currency complications in the event of a fall in the value of the Euro. The IMF requires a large EU contribution. This would not be available if we vote NO. Yet Sinn Fein and the ULA persist with this nonsense.

(4) This Treaty if adhered to will ensure fiscal discipline by Euro governments which has been sadly lacking in many cases. This is in Ireland’s interest.

(5) Sinn Fein and ULA have failed to provide a workable alternative. Polemics and scare mongering by the Left are no substitute for policy.

1 comment: said...

Hi John

I have read your piece "5 Reasons to Vote Yes" and would like to host it on our website Http://
You will see that we have already got "five reasons to vote no" and are looking to provide both sides of the argument to our viewers. We are happy to link to your blog and credit you obviously
Please contact me on to let me know if this is alright with you

Thanks, and Regards