Ireland and the EU
- Ireland’s place is in Europe.
Co-operation with our European partners is essential if we are to meet
the challenges facing us in the time ahead.
- Ireland does not
need more austerity and bank bailout linked EU/IMF loans. We need a
change of direction aimed at investing in jobs and growth and reducing
the debt burden.
- Ireland’s position as a member of the EU and Eurozone is secure no matter what way we vote on the Austerity Treaty.
The Austerity Treaty won’t work
is an urgent need to stabilise the currency. The Eurozone crisis is
having a negative impact on the social and economic well being of people
throughout the EU.It is blocking a return to economic growth.
Austerity Treaty will not solve the Eurozone crisis.It is bad economics
and bad politics. The ‘one size fits all’ monetary policy was part of
the problem; adding a draconian and intrusive ‘one size fits all’ fiscal
policy as outlined in the Austerity Treaty, will only make matters
- The Treaty is not a fiscal compact. It is an austerity
compact. It seeks to impose right wing austerity policies on Irish and
EU governments in perpetuity.
It means more austerity and at least €6 billion more in cuts and taxes from 2015 on top of the cuts in the next three budgets.
the new 0.5% of GDP structural deficit limit into the Irish
Constitution will mean that the government will have to implement
austerity budgets not just to 2015 as required by the EU/IMF programme,
but for its full term of office and beyond. This means more cuts to
frontline health, education and community services and more stealth
taxes like the household charge.
- Introducing a stronger
excessive deficit procedure compelling member states with debt-to-GDP
ratios above 60% to reduce that debt by 5% annually and with deficits
above 3% of GDP will mean that austerity will be even more severe than
in recent years.
- This will lead to a decade of austerity and
economic stagnation. Unemployment and emigration will rise. Poverty and
inequality will affect more and more people. National and household
debt, already at unsustainable levels, will increase. And crucially the
arbitrary and draconian 0.5% deficit target will not be reached.
It hands even more economic power over to unelected officials in the European Commission
- The Treaty undermines member state democracy.
the European Commission decides Ireland is breaking their rules, there
will be a legally binding obligation on the government to enter into an
“Economic Partnership Programme” and allow the European Commission to
dictate policy on tax and budgetary matters. This means a detailed and
invasive European Commission programme, modeled on the current Troika
It allows the European Court of Justice to impose fines of€160 million
additional powers are to be given to the European Court of Justice and
the European Commission to police the debt and deficit ceiling and the
strengthened excessive deficit procedure. The Treaty gives the European
Court of Justice power to determine whether Ireland is obeying the debt
and deficit rules and they can impose fines of up to €160 million (0.1%
Private Sector involvement in debt write down has been ruled out
9 December 2011 European Council agreement underlying the Treaty
explicitly ruled out any private sector involvement in future debt
write-downs. This means that the taxpayer, irrespective of the social
and human cost, will pay all toxic-banking debts.
The Treaty is a step too far – it is binding and permanent
the Irish people ratify this Treaty it can only be changed by a future
referendum and with the agreement of the other EU states, who signed up
The black mail clause linking ratification to ESM eligibility is an empty threat
blackmail clause is an empty threat to try and bully people into
supporting the Austerity Treaty. It is not an article of the ESM treaty
but a recital and therefore does not have any legal standing,
particularly if it is in conflict with the primary mandate of the
European Stability Mechanism as outlined in Article 136 of the EU
treaties.It could not be used to deny funding to a member state if to do
so threatened the stability of the Eurozone as whole
Government has a veto on the ESM, by virtue ofhaving a veto over the
amendment to Article 136 of the European Treaties. If the Austerity
Treaty is rejectedby the people, the government should seek a further
amendment to the ESM Treaty removing the blackmail clause and use its
veto on this matter if required.
- A second bailout is not in the
interests of the citizens of this state, indeed a second bailout is
evidence of the failure of the first bailout. We believe that the best
way to avoid a second bailout is abandon the failed policies of bank
bailouts and austerity and invest in jobs while writing down our debt
including the promissory note
- The ESM is not the only source of emergency funding. It was never the only option.