On the 31st May 2012, the Irish citizenry vote on one of the most important referenda of a generation, a vote that could mean the difference economic recovery or pariah status as a nation. This blog entry addresses the importance of Ireland's adoption of the European Fiscal Stability Treaty.
Ireland needs certainty. Irish businesses need certainty. International investors need to have certainty in Ireland. The upcoming referendum on the European Fiscal Stability Treaty, while not perfect, provides that certainty. It provides reassurance, a sort of guarantee that if worst came to worst, Ireland has options and a viable route to recovery.
The rejection of EFS Treaty will provide only confusion, uncertainty and fear - exactly what those on the 'No' side want to capitalise on for their own political gain. Its rejection could mean a new nadir for Ireland.
While domestic Irish business can and will deliver the growth and innovation to help reduce our sovereign and personal debt burden, as a small and open economy on the fringe of Europe international investors need to have confidence that they are investing in a country that is economically and politically stable.