Arab Today, arab today ireland calls vote on european fiscal pact
Last Updated : GMT 05:32:35
Arab Today, arab today
Arab Today, arab today

Ireland calls vote on European fiscal pact

Arab Today, arab today

Arab Today, arab today Ireland calls vote on European fiscal pact

Dublin - Arabstoday

Dublin will hold a referendum on the eurozone fiscal pact, plunging Europe into months of uncertainty and potentially placing a question mark over Ireland\'s membership of the euro. Enda Kenny, Ireland\'s prime minister, said Dublin\'s head legal official had advised that \"on balance\" the Irish constitution required the treaty to be put to a vote. It is likely to take at least three months to organise a referendum. \"I am confident that the Irish people will do what is necessary ... In the end, what this will come down to is a vote for economic stability and economic recovery,\" Mr Kenny told parliament on Tuesday. The UK veto of the fiscal treaty, which introduces strict targets to control eurozone countries\' debt, last December meant the pact was drawn up outside of the normal European Union treaty architecture. That in turn was a factor in the attorney general\'s decision that a referendum was probably required. News of the Irish referendum sparked a sharp sell-off in the euro, which fell to a daily low against the dollar before rebounding as investors absorbed the low probability that the move would derail Europe\'s fiscal treaty. The single currency later came close to three-month highs as the European Central Bank embarked on a fresh round of lending to Europe\'s banks. \"It\'s a different situation than we\'ve had before with Irish [referendums],\" said one EU official. \"They will wake up the day after and still be in the euro.\" Under the Irish constitution, the Irish people have to vote to ratify any significant transfer of sovereignty to Europe. Dublin has held referendums on every significant EU treaty since 1987 when Raymond Crotty, an economics professor, won a landmark legal challenge against the state, forcing a plebiscite on the Single European Act. The Irish public have twice rejected EU treaties, only to approve them in second referendums. In 2008 the Lisbon treaty was rejected only to be approved in a second referendum held 18 months later. Dublin had desperately hoped to avoid a politically divisive referendum while implementing more than €30bn in austerity measures to cut its budget deficit. Irish officials had worked closely with EU officials to try to limit the scope of the treaty in the hope it would enable Dublin to ratify the treaty through legislation rather than a national vote. A no vote would mean Ireland was not eligible for funds from the European Stability Mechanism, the eurozone\'s new bail-out fund. The pact can enter force with the support of 12 of the 17 countries that use the euro, effectively removing any single nation\'s veto over the accord. Michael Noonan, finance minister, warned in December that a referendum on the treaty would effectively be a referendum on euro membership. A recent opinion poll found 40 per cent of the 1,000 Irish people questioned said they would support the treaty, with 36 per cent against and 24 per cent undecided. EU officials believe by holding a referendum Dublin could increase its leverage over the EU to force new concessions on winning debt relief on its banking debt and resisting pressure from France, which wants Dublin to increase its corporate tax rate.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ireland calls vote on european fiscal pact Arab Today, arab today ireland calls vote on european fiscal pact

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ireland calls vote on european fiscal pact Arab Today, arab today ireland calls vote on european fiscal pact

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Barcelona through George Orwell’s eyes

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 35 Egyptian police, troops die in clashes

GMT 04:36 2017 Saturday ,21 October

35 Egyptian police, troops die in clashes
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Actress Shery Adel happy for Egypt’s qualification

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:43 2017 Wednesday ,18 October

Fake dentists ply brisk trade

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday