Why I’m Voting Yes- Julie O’Leary

With the power that democracy gives us comes responsibility- a responsibility to make the right choice for Ireland on May 31st. I’m voting Yes because I believe the Treaty will bring certainty, stability, and put Ireland on the best possible path to economic recovery.

We have seen in recent times how what happens in one country can effect the entire Eurozone. No longer can we ignore the politics of Greece, Spain or Italy- decisions made in these countries have an impact on the Irish economy and the Irish people. We share a currency with 17 other states, and this Treaty provides for our Governments to work closer together to create the best future possible for people across Europe.
The fiscal rules and structural deficit rules in this treaty will restore stability to Ireland and the Eurozone. Reckless borrowing was a fact of life in some Eurozone states, and this treaty makes it clear that this is no longer acceptable. These rules are already part of European law, but this Treaty makes sure they are written into the national law of each member state. No country, big or small, will be able to break the rules and endanger the entire Eurozone economy.
Ireland needs access to the ESM. Those who say otherwise are willing to take chances on our future, chances we can’t afford. Whether we require future funding or not, the ESM is like an insurance policy and helps create certainty. It gives investors and job-creators confidence in Ireland’s future. This will help us to go back to the bond markets and wave goodbye to the IMF as soon as possible.
This Treaty will not solve all our problems, but it is an important step on the path to recovery. Rejecting the Treaty leads us into uncharted waters, instability and confusion. Saying Yes will help us restore our economic sovereignty and create the right environment for growth and job creation. This Treaty is good for Europe and good for Ireland. Vote Yes on May 31st to give Ireland the best chance for a better future.

Julie O’Leary, International Secretary, Young Fine Gael

Related articles

• Why I am Voting Yes – For Stability (stephenspillane.com)
• The honest No voices on our chances of funding (williamquill.com)
• YFG Launches YES Campaign (stephenspillane.com)

Tweet-sized Stability Treaty!

As part of Young Fine Gael’s campaign for a YES vote in the Stability Treaty referendum on May 31st, we have been breaking the treaty down into 21 tweets. This Treaty is very short and readable. Here are the first ten tweets!

Yes blog by YFG’s Deputy Secretary General of YEPP

YEPP Deputy Secretary General, Colm Lauder writes on the upcoming Irish Referendum.

On the 31st May 2012, the Irish citizenry vote on one of the most important referenda of a generation, a vote that could mean the difference economic recovery or pariah status as a nation. This blog entry addresses the importance of Ireland’s adoption of the European Fiscal Stability Treaty.

Ireland needs certainty. Irish businesses need certainty. International investors need to have certainty in Ireland. The upcoming referendum on the European Fiscal Stability Treaty, while not perfect, provides that certainty. It provides reassurance, a sort of guarantee that if worst came to worst, Ireland has options and a viable route to recovery.

The rejection of EFS Treaty will provide only confusion, uncertainty and fear – exactly what those on the ‘No’ side want to capitalise on for their own political gain. Its rejection could mean a new nadir for Ireland.

While domestic Irish business can and will deliver the growth and innovation to help reduce our sovereign and personal debt burden, as a small and open economy on the fringe of Europe international investors need to have confidence that they are investing in a country that is economically and politically stable.

2011 was a year bereft of investment in many sectors due to political indecision both at home and abroad. The new coalition government have ensured that a clear path is now marked to recovery. We must continue to follow it, while avoiding the mistakes of former governments.

The fiscal rules and the structural deficit rules at the core of the treaty will prevent the reckless borrowing that was culturally ingrained in certain Eurozone states. It will provide new rules to ensure that excessive deficits and fiscal carelessness will not be accepted. It encourages governments to be prudent during bull markets, which in turn will provide greater flexibility and re-actability during bear markets. No different to how a sensible household should behave.

The rejection of the treaty will place Ireland in an exposed and dangerous position. If further external funding was required outside the agreed IMF/ECB programme, and ESM access was blocked, Ireland could find itself in extreme and rapid austerity, or face default with the chaos that would ensue.

Access to the ESM, as provided by the treaty, means Ireland’s future funding prospects, post 2013, are certain. Whether or not this funding is needed is immaterial as simply having the option would ensure the confidence of investors, rating agencies and allow an easier transition back to the bond markets.

The argument of those in the opposition is that funding would still be available to Ireland is nonsensical, irresponsible and naïve. Already, Germany and France have hinted that no additional funding would be available for countries outside the ESM treaty.

The passing of this treaty will not cure all of Ireland ills but it will provide a reassurance for consumers and businesses, both domestic and international, that this country is a good place to do business, a country that is stable and a country that remains at the heart of our biggest trading partner, the Eurozone.

A Yes vote on May 31st is the only option to guarantee the right environment for recovery through investment, growth and innovation.

For further details visit http://www.stabilitytreaty.ie

YEPP website: www.youthepp.eu

 

Related articles

• Sinn Fein anti-Treaty leaflet quotes three economists who advocate a Yes vote – Paschal Donohoe (yfginternational.wordpress.com)

Sinn Fein anti-Treaty leaflet quotes three economists who advocate a Yes vote – Paschal Donohoe

Fine Gael Dublin Central TD and Vice-Chairperson of the Oireachtas European Affairs Committee, Paschal Donohoe, has today (Wednesday) said that the holes in Sinn Féin’s campaign against the Stability Treaty have already been exposed, after it was revealed that a Sinn Féin leaflet being circulated nationwide is quoting three economists who have advocated a Yes vote. Deputy Donohoe tackled Sinn Féin leader Gerry Adams on the issue at this afternoon’s meeting of the Sub-Committee on the Stability Treaty Referendum.

 

“The back hole in the Sinn Fein call for a No vote is their inability to guarantee continued funding for our schools, hospitals and social welfare payments. But even I was shocked when I came across the Sinn Féin leaflet calling for a No vote, which quotes the economists Colm McCarthy, Karl Whelan and Seamus Coffey.

 

“All three of these experts have said while they have some reservations about the contents of the Stability Treaty, a Yes vote is in Ireland’s best interests. To take the example of Karl Whelan; the Sinn Féin leaflet uses the following quote: ‘the economics of this treaty are pretty terrible’. What the leaflet doesn’t do is finish the quote, which goes on: ‘I think that, on balance, the arguments favour Ireland signing up to it’.  

 

“Sinn Féin is choosing to selectively quote Mr Whelan. But they don’t stop there. They also use a quote from a recent article from Colm McCarthy, which includes the line: ‘As an exercise in addressing the eurozone’s twin banking and sovereign debt crises, the fiscal compact makes no worthwhile contribution’. If Sinn Féin bothered to read the full article, or indeed any number of articles penned by Mr McCarthy recently, they would know he has strongly advocated a Yes vote , describing the Government’s approach as   ‘the correct response, unavoidable and in the country’s best interests’.

 

“Finally, the Sinn Féin leaflet quotes from a contribution Seamus Coffey made in a recent presentation to the EU Affairs Committee. Mr Coffey did not give his own opinion during that contribution, but he makes his views clear on his blog, where he states: ‘there is little to be gained from rejecting the Treaty’.

 

“This all says an awful lot about the many weaknesses in Sinn Féin’s argument. Not only do they wrongly claim that Ireland would be able to magically access funds in the future from mystery sources if we reject the Treaty and the backstop of the ESM; and not only do they condemn the financial mistakes of the past while refusing to sign up to sensible rules to stop these mistakes from being repeated; now they are resorting to misrepresenting the views of others. Sinn Féin should withdraw this leaflet and explain why they have misrepresented three impartial experts to support their claims.”

 

Related articles

• Sinn Fein and selective hearing… (sluggerotoole.com)
• Martin McGuinness accused of sanctioning murders of two senior police officers (independent.co.uk)
• Being an all-Ireland party has its downsides – Sinn Fein’s inconsistency on property taxes (sluggerotoole.com)

Economic Ideas Forum to take place in Dublin Castle, 19th-20th April

The Centre for European Studies, the official think-tank of the European People’s Party, will hold their third annual Economic Ideas Forum in Dublin Castle, from the 19th-20th April 2012. It is being hosted by the Taoiseach, and is organised in cooperation with the Konrad Adenauer Foundation.

The Forum will gather senior politicians from the European Union institutions, national ministers and heads of government, top academics and influential stakeholders. The very impressive programme, available here, includes John Bruton, former Taoiseach and former EU Ambassador to the US, Thomas Spiller, Vice-President at the Walt Disney Company, Wilifred Martens, President of the EPP and former Prime Minister of Belgium, Peter Spiegel, Brussels Bureau Chief for the Financial Times, and of course, an Taoiseach Enda Kenny, who is also a Vice-President of the European People’s Party.

The discussion will tackle themes ranging from Europe and the world economy, economic governance, Single Market and growth and EU-US shared economic challenges- all extremely important and relevant topics.

For more information and to register to attend, see the CES website here.