Fine Gael Dublin Central TD, Paschal Donohoe, has said that a Yes vote in the Stability Treaty Referendum gives Ireland the best chance of success in the future. Deputy Donohoe was speaking at a public meeting organised by the United Left Alliance in Liberty Hall.
“The Irish economy is deeply interwoven with the world outside our shores. This has been a conscious choice of continuous Governments. From the publication of the Programme for Economic Expansion in 1958, the focus of the IDA on attracting Foreign Direct Investment, our joining of the EEC in 1973 and to our joining of the euro.
“These decisions have been consistently supported by the Irish people, because we want to compete for global investments and jobs despite our island location, and a certainty of exchange rates so we can easily sell our goods and services abroad. In return we have embraced greater integration across Europe, through labour and capital markets.
“These decisions have been to our benefit. According to the latest World Bank statistics, Ireland’s gross national income per head puts us 20th out of 200 states worldwide, and 11th in the EU. In 1950, Irish income was 69% of the European average, nearly 60 years later that had gone up to 125%. So despite the huge difficulties we have faced as a people, we are still doing much better than we could have done otherwise.
“A Yes vote will show Ireland is committed to taking control of our national finances and that we can fund our public services into the future. This will help to give people more confidence to spend their hard earned money, attract investment and boost international deposits in our banking system.
“A Yes vote will deliver positive answers to the big questions of funding our State and staying at the heart of the Eurozone. These questions are too important to say we ‘might’ be able to access some unspecified fund if we vote No and cut ourselves off from the ESM.
“The No side has many questions it cannot answer. If we vote no, how will we have money to invest in jobs if there are doubts about how we will fund the country? How will we get money to keep schools and hospitals open if we cut ourselves off from the ESM?
“A Yes vote answers these questions; it provides certainty and stability. A Yes to the Stability Treaty gives Ireland the best chance of success in the future.”