As the fiscal treaty referendum enters its final stage, Taoiseach Enda Kenny has warned of a downgrading of Ireland's credit rating and harsher budgets ahead if there is a No vote.
Calling for a resounding Yes to the treaty, Mr Kenny endorsed the assessment of Minister for Finance Michael Noonan that a No vote would bring tougher budgets. The Taoiseach said that the consequences of a No vote for Ireland’s credit rating had been made clear by the agencies themselves, who had indicated that “if the people want to turn down the fiscal stability treaty then a downgrade of the country will follow”.
The Taoiseach rejected calls for a postponement of the referendum by Shane Ross, saying there were no grounds for delaying the vote even if that were constitutionally possible, which it was not. Mr Kenny insisted that people would only be given one chance to ratify the treaty. He said that in the vote people could give “a very definite decision of clarity and decisiveness about what it is that we want”. The Taoiseach said this would mean that companies and potential investors would “not have to have second thoughts about where they should go”.
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