Thursday, May 31, 2012

Ireland Votes On Europe's Fiscal Pact Referendum

Irish Voting In Fiscal Pact Referendum -- The Telegraph

Polling stations have opened across Ireland in what will be the only popular vote on a European fiscal pact that is seen as critical for the euro’s future.

reland is deciding on the ratification of a treaty that was drawn up in response to the euro debt crisis in order to enshrine the single currency’s fiscal rules, limiting government spending, into national law.

The Irish government has warned that a No vote would lead to a Greek-style banking collapse, lead to a tripling of the Ireland’s borrowing costs and plunge the country into national bankruptcy by 2014.

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My Comment: This is an important vote on the Euro and Ireland's place in it. When final results are in (later today), I will be giving a more comprehensive analysis and roundup of these events.

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