01 June 2012

EP President Schulz welcomes Irish Yes vote on Fiscal Compact Treaty

The President of the European Parliament, Martin Schulz, made the following statement on the Yes vote in the Irish referendum on the Fiscal Compact Treaty:

"I welcome the positive vote of the Irish people in the referendum on the Fiscal Compact Treaty. This is an important day for Ireland and for the European Union.

The Yes vote sends an important signal of Ireland's commitment to the eurozone and to the EU more broadly. Yet we must also listen to the concerns of those who voted No. The European Union is based on the principles of solidarity and responsibility, and the Fiscal Compact is part of that.

The Fiscal Treaty is one element in the global strategy for the eurozone. Clear rules bring stability, but they must be accompanied by significant growth measures. I am delighted that the focus in the EU is now moving to the vital issue of how to create jobs and sustainable growth - something that I and the European Parliament have been pushing for some time now. Fiscal discipline alone, although necessary, will not suffice to bring the much needed economic growth to the EU.

The Irish people and authorities have shown extraordinary capacity to deal with the difficult circumstances of the economic crisis and have done so in a competent manner. The Irish people have had to endure a number of very tough years and they still have some difficult budgets ahead. They need to have some cause for hope for the future."

Press release

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