Friday, June 1, 2012

Irish voters 'back EU fiscal pact' - early results

A man with a buggy passes a polling station in Drumcondra, Dublin, 31 May

Early indications suggest voters in the Republic of Ireland have approved the EU fiscal pact in a referendum.

Counting is in progress in Ireland, the only eurozone state to hold a referendum on the pact aimed at enforcing budget rules.

Early unofficial results indicate that nearly 60% backed the "Yes" camp. Official results from Thursday's vote will be announced early in the evening.

Opinion polls had suggested a "Yes" camp win.

Low turnout may have helped the "No" campaign, but in any event a "No" vote would not block the pact.

Only 12 of the 17 eurozone members are required to ratify the treaty, which sets strict limits for eurozone countries' budget deficits.

Rejecting it would bar Ireland from emergency EU funding when its current bailout package expires in 2013.

Fewer than half the 3.1m registered voters turned out, with the percentage ranging from the low 30s in some regions to the mid-50s in some parts of the capital, Dublin.

The Republic's European Affairs Minister, Lucinda Creighton, said she was "very, very confident" the "Yes" camp would prevail.

"We'll have to wait another half an hour to see how the tallies are looking, but so far so good," she told Reuters news agency on Friday as she watched votes being counted in her Dublin South East constituency.

BBC Ireland correspondent Mark Simpson says the "Yes" camp fears people angry with continuing austerity measures voted against the treaty to punish the government.

"No" voter Gerard Cunningham told the Associated Press: "Banks in Germany and Britain and elsewhere were just as responsible for the mess we're in.

"We're sick to the back teeth of being told it's all our own fault."

Another voter, Bridget Connolly, voted "Yes".

"The treaty will solve nothing, but... we're going to need European money next year, plain and simple," she said.

"We can't afford to be thumbing our noses at Europe right now."

The pact, signed by all EU members except the Czech Republic and the UK, allows EU member states to co-ordinate their budget policies and impose penalties on rule-breakers.

It commits all ratifying members to achieve budget deficits of less than 0.5% of economic output.

Last year, Ireland's deficit reached 13.1%.

The country's voters have twice rejected EU treaties - in referendums in 2001 and 2008 - though both votes were overturned in subsequent polls.

Those against the treaty argue that austerity is not working and suggest that the country should instead default on debts at five nationalised banks.



Source & Image : BBC

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