Will it Work?
No. More cuts and bank bail-outs won’t work. It will drive the Irish economy further into recession. If people have less money to spend on goods and services then more Irish businesses are going to go to the wall, increasing unemployment and emigration. This will prolong the recession started by Fianna Fáil. We need jobs and growth.
Does it deal with the debt crisis?
No. It completely ignores it. As everyone knows, the big problem in the Irish economy is the €31billion that Fine Gael and Labour are pouring into the zombie bank Anglo. They are paying billions more to unsecured and unguaranteed bank bondholders. This private debt, being paid for with your money, is crippling the economy.
What happens if we need a second bailout?
The government is trying to suggest that if we don’t sign up to the Austerity Treaty we will not get access to emergency funding. This is utter nonsense. The simple fact is that this is not a done deal. For the ESM to come into law it has to be given a legal basis in the EU Treaties (via an amendment to Article 136) and all 27 member states, including this one, have to agree to this. In plain English this means the government has a veto.
Are Enda Kenny and Eamon Gilmore seriously suggesting that they intend to sign up to something that would deny us access to emergency funding if the state needs it?
How much will it cost Irish taxpayers?
It will cost Irish taxpayers at least €6 billion. This is on top of the €8.8 billion in cuts over the next three years for the troika deal and the billions that Fine Gael and Labour
want to pay to Anglo and unsecured bondholders. This is more money out of your pocket. The government needs to say where this money will come from – will it mean more cuts to health and education, more stealth taxes like the household charge, property taxes and water charges?
Voting NO to the Austerity Treaty means:
- Ireland stays at the heart of the EU and continues to be a full member of the Eurozone and will have access to future funding.
- Austerity is not underwritten in the Constitution and the Irish people continue to
have some control over monetary and fiscal matters.
- The Irish Government can deal with the debt crisis and invest in jobs and growth.
- Ireland maintains the sovereignty that Fianna Fáil, Fine Gael and Labour want to give away.