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Ireland votes on EU fiscal pact | Ireland votes on EU fiscal pact |
(40 minutes later) | |
The Republic of Ireland is voting on whether to ratify the EU's Fiscal Pact, which sets strict limits for countries' budget deficits. | |
Rejecting it would bar Ireland from emergency EU funding when its current bailout package expires in 2013. | Rejecting it would bar Ireland from emergency EU funding when its current bailout package expires in 2013. |
Ireland is the only one of 25 pro-pact EU nations putting it a national vote. But only 12 of the 17 eurozone states need to ratify it, so an Irish "No" vote would be unlikely to halt it. | Ireland is the only one of 25 pro-pact EU nations putting it a national vote. But only 12 of the 17 eurozone states need to ratify it, so an Irish "No" vote would be unlikely to halt it. |
Turnout is not expected to be high. | |
The BBC's Mark Simpson, in Dublin, says the "Yes" camp fears people, angry with continuing austerity measures, will vote against the treaty to punish the government. | The BBC's Mark Simpson, in Dublin, says the "Yes" camp fears people, angry with continuing austerity measures, will vote against the treaty to punish the government. |
Complicated | Complicated |
The pact, signed by all EU members except the Czech Republic and the UK, allows EU member states to co-ordinate their budget policies and impose penalties on rule-breakers. | The pact, signed by all EU members except the Czech Republic and the UK, allows EU member states to co-ordinate their budget policies and impose penalties on rule-breakers. |
It commits all ratifying members to achieve budget deficits of less than 0.5% of economic output. | It commits all ratifying members to achieve budget deficits of less than 0.5% of economic output. |
Last year, Ireland's deficit reached 13.1%. | Last year, Ireland's deficit reached 13.1%. |
The country's 3.1m voters have twice rejected European Union treaties - in referendums in 2001 and 2008 - though both votes were then overturned in subsequent polls. | The country's 3.1m voters have twice rejected European Union treaties - in referendums in 2001 and 2008 - though both votes were then overturned in subsequent polls. |
Those against the treaty argue that austerity is not working and suggest that the country should instead default on debts at five nationalised banks. | Those against the treaty argue that austerity is not working and suggest that the country should instead default on debts at five nationalised banks. |
In a nationwide television address before campaigning ended, the Irish Prime Minister, Enda Kenny, urged people to vote in favour of the treaty. | In a nationwide television address before campaigning ended, the Irish Prime Minister, Enda Kenny, urged people to vote in favour of the treaty. |
"I ask you to make a further contribution by coming out to vote 'Yes' on Thursday. Yes to stability. Yes to investment. Yes to recovery. Yes to a working Ireland," he said. | "I ask you to make a further contribution by coming out to vote 'Yes' on Thursday. Yes to stability. Yes to investment. Yes to recovery. Yes to a working Ireland," he said. |
Sinn Fein president Gerry Adams, who is campaigning against the treaty, told voters not to be fooled. | Sinn Fein president Gerry Adams, who is campaigning against the treaty, told voters not to be fooled. |
"Be wise. Join with the millions across Europe who are demanding an end to austerity. On Thursday, vote 'No'." | "Be wise. Join with the millions across Europe who are demanding an end to austerity. On Thursday, vote 'No'." |
The party's stance on the treaty has seen its support surge in recent weeks, making it the second-most popular party in the Republic of Ireland for the first time. | The party's stance on the treaty has seen its support surge in recent weeks, making it the second-most popular party in the Republic of Ireland for the first time. |
Results are not expected until late on Friday. | Results are not expected until late on Friday. |