IBEC publishes it’s survey of Irish CEOs on the Stability Treaty.

16th May, 2012


IBEC, the group that represents Irish business, today published a major new survey of Irish CEOs on the upcoming Stability Treaty referendum, which highlights the economic importance the business community places on a yes vote. The vast majority of business leaders also said that a no vote would limit Ireland’s ability to do business in Europe. IBEC said that the dangerous instability in Greece reinforced the need for Ireland to pass the treaty and dispel any concerns about the future funding of the country.

The survey, conducted in the first two weeks of May, is based on replies from over 400 CEO’s. The main findings of the survey are as follows:

  • 90% of CEOs believe a yes vote is important to
    the future prosperity of their business
  • 83% of CEOs believe a yes vote will have a
    positive impact on Ireland’s ability to attract foreign direct investment
  • 82% of CEOs believe a yes vote will have a
    positive impact on the future success of the Irish economy
  • 87% of CEOs believe a no vote will limit
    Ireland’s ability to do business in Europe


IBEC Director of Policy and International Affairs Brendan Butler said: “Irish business believes a yes vote is crucial for inward investment and job creation. A yes vote will assure international investors that the economy has stabilised and is now firmly on the road to recovery. With over 60% of exports from Ireland going to the EU it is very significant that a large majority of CEO’s (87%) believe a no vote would limit our ability to do business in our key market.”

The support of business leaders for the treaty had hardened further since the last IBEC survey. When asked in February this year (before the decision to hold a referendum was announced), 73% regarded ratification of the treaty as important to the future prosperity of their business. This figure has risen to 90% in the latest survey. There is also increased support for membership of the eurozone in the most recent survey. When asked in February if Ireland membership of the eurozone was important to the future prosperity of their business 88% responded in the affirmative, the figure in the most recent survey had risen to 93%.

“Irish companies are making a direct link between ratification of the treaty and the future success of their own business. The importance of this should not be understated as IBEC members employ 70% of the country’s private sector workforce. Business needs stability and certainty if it is to have the confidence to invest and create jobs. A no vote would increase uncertainty in an already volatile European environment.”