Irish EU treaty vote threatens chaos – more holes in the dike! It’s happening!

Ireland has shocked Europe with plans for a referendum on the EU’s fiscal treaty, a move that risks an unprecedented fragmentation of the eurozone and a major clash with Germany.

Fine Gael leader Enda Kenny addresses supporters in Dublin

Enda Kenny specified no date for the vote Photo: Reuters

10:20PM GMT 28 Feb 2012

Premier Enda Kenny said Dublin was acting on legal advice from Ireland’s attorney-general that “on balance” the fiscal compact requires a vote under the country’s constitution. “It gives the Irish people the opportunity to reaffirm Ireland’s commitment to membership of the euro,” he told ashen-faced members of the Dail.

All three major parties back the treaty but analysts say there is a high risk of rejection by angry voters in the current fractious mood. The compact gives the EU intrusive powers to police the budgets of debtor states, and has been denounced as feudal bondage by Sinn Fein and Ireland’s vociferous eurosceptics. The Irish voted “No” to both the Nice and Lisbon treaties before being made to vote again. Dublin has ruled out a second vote this time.

The Taoiseach’s announcement sent the euro into sharp dive against the dollar, though it rebounded later. Europe’s leaders thought they had tweaked the wording of the text just enough to avoid an Irish vote.

Ireland cannot stop the process since a quorum of 12 states brings the treaty into force, but it would be politically untenable to create a new eurozone structure that left one member in limbo.

German Chancellor Angela Merkel reacted with fury last November when Greece, which on Tuesday night approved €3.2bn of new budget cuts, unexpectedly called a referendum on the terms of its bail-out. Ireland’s move may also rankle, even if deemed less capricious.

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One Response to Irish EU treaty vote threatens chaos – more holes in the dike! It’s happening!

  1. Stunned at sunset says:

    General post:

    Angela Merkel had better mind her manners and hold her tongue. Sinn Fein never did take kindly to the cabalistas and it wouldn’t be the first time the IRA had to make a point with an adversary.

    Ireland is the homeland of the Celtic people. It does not belong to the Germans or the French and the Irish have already made it patently clear that it doesn’t belong to the British either. This theater of the absurd now playing in Brussels is going to end badly for the cabalistas should they touch off Irish sensibilities. They’ll get no sympathy from the rest of us when they’re all thrown up a gigantic green wall of resistance.

    😮

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