IBEC welcomes 'clarity' on EU treaty

IBEC welcomes 'clarity' on EU treaty

Employers' group IBEC today welcomed what it called the "clarity" from the informal European Council meeting in Brussels that there would be no change to the fiscal rules set out in the EU fiscal treaty.

The group also said it strongly supported the renewed commitment to take decisive steps to boost growth and investment across the EU.

"The Stability Treaty is not up for renegotiation and is not going to change," IBEC Director General Danny McCoy said.

"If we reject the treaty Europe will move on without us and we will not have access to the new European bailout fund, the ESM.

"Europe needs to take a much more active role in supporting growth and economic activity, but this does not negate the need for fiscal discipline.

"All EU countries recognise the need to both fix the public finances and grow the economy. Irish business can deliver the growth needed to overcome our debt burden, but the EU also has a part to play."

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