Vote YES to Recovery, Investment and Stability – Deering

27th April, 2012


Carlow Fine Gael TD, Pat Deering, has called on the people of Carlow to vote Yes to Recovery, Investment and Stability in the upcoming referendum on the Stability Treaty.

“Foreign direct investment is hugely important to this country. By voting Yes on May 31st we will be sending out a clear message that we are committed to maintaining a strong position at the core of Europe.

“Voting Yes is a key step on our path to economic recovery. The Stability Treaty will not solve all of our problems, but it will help to re-enforce the confidence in the Irish economy that has been growing over the last year. Job creating investors from multinational firms want to know that Ireland is serious about getting our financial affairs in order, and that we are determined to ensure we are fully funded into the future.

“Job creation is at the heart of every decision this Government makes. An Taoiseach, Enda Kenny, negotiated this Treaty with his European partners because he believes it is in the best interests of the country. Voting Yes will help to restore stability across Europe and in Ireland; the stability we need to attract investment and create jobs.

“Over the last year, Foreign Direct Investment companies created 13,000 jobs in Ireland. In recent months we have seen major announcements from leading international firms like Apple, Sky, Mastercard, Mylan and HP. If we want to continue to attract further investments like these we need to ensure Ireland’s reputation as a gateway to Europe is secure.

“An important element of the Stability Treaty is that it guarantees that we will have access to Europe’s new bailout fund, the ESM, should we need it in the future. This is like having an insurance policy; we don’t plan to access this fund, but it sends out an important message to investors that it’s there if we need it. A No vote would mean we are cut off from this funding. This could pose serious problems for Ireland in the future, and send a message of uncertainty and instability to job creating investors.

“I believe it is in everyone’s best interests that we sign up to sensible financial rules, to make sure governments act responsibly in the future. International investors want to know that Ireland has got its books in order, and that we are on a sustainable path, as opposed to the boom to bust economic cycle which dominated over the last decade and a half.

“Fine Gael will be distributing information leaflets across the country in the coming weeks. I am looking forward to talking to people across Carlow in the coming weeks and discussing the merits of the Treaty. I will be urging them all to vote Yes to Recovery, Investment and Stability on May 31st.”