Ireland votes in favor of fiscal treaty

BBC News ^ | 1 June 2012 | Last updated at 16:37 ET | Mark Devenport Article written by Mark Devenport | Political editor, Northern Ireland

[Olog-hai]

So after a nervous night, Enda Kenny will be relieved by the 60% margin of victory in the Irish referendum on the fiscal pact.

The Taoiseach's measured welcome for the result reflects his knowledge that this is not the end of Ireland's austerity, nor even the beginning of the end, although like Winston Churchill, Mr. Kenny might hope this is at least the end of the beginning.

Having delivered the German Chancellor Angela Merkel a rare bit of good news, Dublin will hope Europe's leaders might reward their decision to stay within the fiscal stability pact with a reciprocal degree of flexibility.

The talk of the European Central Bank stepping in to bail out banks directly is attractive to national governments who have previously had to load such rescue packages onto their own balance sheets.

But with dark clouds still looming over Greece and Spain, it is impossible at this stage to gauge whether the Irish referendum will have much impact in slowing the speed of the European financial tailspin. …

[SunkenCiv]

Thanks Olog-hai.

[ak267]

Ireland: From Celtic tiger to pathetic kitty kat.

After they got bullied to vote on the Lisbon treaty for a SECOND time (after they first rejected it), you could tell they just gave up and sold their souls to the eu.