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Ireland referendum on EU pact to be held on 31 May | Ireland referendum on EU pact to be held on 31 May |
(40 minutes later) | |
The Republic of Ireland will hold a referendum on the European fiscal treaty on 31 May, Deputy Prime Minister Eamon Gilmore has said. | The Republic of Ireland will hold a referendum on the European fiscal treaty on 31 May, Deputy Prime Minister Eamon Gilmore has said. |
Mr Gilmore told the Irish parliament he was confident that a majority of the public would back the government in supporting the treaty. | Mr Gilmore told the Irish parliament he was confident that a majority of the public would back the government in supporting the treaty. |
The pact introduces tough new deficit rules and spending restrictions for governments. | The pact introduces tough new deficit rules and spending restrictions for governments. |
Only the Czech Republic and the United Kingdom refused to sign up to the pact. | Only the Czech Republic and the United Kingdom refused to sign up to the pact. |
The Irish Republic is expected to be the only European state to hold a referendum on ratification. | The Irish Republic is expected to be the only European state to hold a referendum on ratification. |
In January it received legal advice that the country's constitution made it necessary to ask the public to back the pact. | In January it received legal advice that the country's constitution made it necessary to ask the public to back the pact. |
"This is about ensuring long-term stability, recovery, growth and jobs," said Mr Gilmore as he called for a "yes" vote. | |
Ireland's referendum campaign on the European Fiscal Treaty has begun, after the Irish government decided to run the vote in just nine weeks' time. | |
The decision to hold the referendum on Thursday 31 May reflects growing optimism in government circles that the vote will be passed. | |
The latest opinion polls suggest there is a significant majority in favour of the new treaty. | |
However, the government is battling to force through a new flat-rate household charge that is proving controversial. | |
This could damage its influence in the referendum campaign in the coming weeks. | |
Ireland has a mixed record on European votes, having required a second vote before ratifying European treaties in both 2001 and 2008. | Ireland has a mixed record on European votes, having required a second vote before ratifying European treaties in both 2001 and 2008. |
But the opposition Fianna Fail party has indicated it will support the government and campaign for a yes vote in May. | But the opposition Fianna Fail party has indicated it will support the government and campaign for a yes vote in May. |
The new pact will come into effect once 12 countries have ratified it. | The new pact will come into effect once 12 countries have ratified it. |
Bailout funds | Bailout funds |
Rejecting the pact would only mean that Ireland would be excluded from the terms of the agreement. | Rejecting the pact would only mean that Ireland would be excluded from the terms of the agreement. |
It would also mean that Dublin was prevented from accessing loans from the European Stability Mechanism (ESM), the successor to the eurozone's current rescue fund. | It would also mean that Dublin was prevented from accessing loans from the European Stability Mechanism (ESM), the successor to the eurozone's current rescue fund. |
Ireland is already using rescue funds as part of an EU/IMF bailout that runs until the end of 2013. | Ireland is already using rescue funds as part of an EU/IMF bailout that runs until the end of 2013. |
In November 2010, the Irish government was awarded 85bn euros ($112bn; £71bn) of emergency loans from the International Monetary Fund and European Union, as it struggled to cope with big debts and the high cost of its borrowing. | In November 2010, the Irish government was awarded 85bn euros ($112bn; £71bn) of emergency loans from the International Monetary Fund and European Union, as it struggled to cope with big debts and the high cost of its borrowing. |
Recent opinion polls in Ireland suggest most people would vote to ratify the agreement. | Recent opinion polls in Ireland suggest most people would vote to ratify the agreement. |
Prime Minister Enda Kenny was not in parliament because he is on a trade mission to China. | Prime Minister Enda Kenny was not in parliament because he is on a trade mission to China. |