Uncertainty over referendum date ‘not good for business’

Ibec is claiming that any further delay in the setting of a date for the Fiscal Stability Treaty referendum will damage confidence and create further uncertainty about Ireland’s relationship with Europe.

Ibec stressed the importance of the Government using tomorrow’s Cabinet meeting to set a date for the treaty referendum.

Ibec’s director of international relations Brendan Butler said that uncertainty was bad for business.

“Until the referendum takes place, a question- mark hangs over Ireland’s relationship with Europe.

“This period of uncertainty is not good for business confidence or our international reputation,” he said.

“The treaty is much more straightforward than previous treaties and involves a relatively small number of new budgetary rules to ensure future economic crises are avoided,” he said.

“It is Ibec’s view that the vote should take place in late May or early June.”

A survey of more than 300 chief executives conducted by Ibec in February showed very strong support for the EU Stability Treaty, with 73% of respondents stating that Ireland’s ratification of the treaty was important to the future prosperity of their business; 38% stating that its ratification was “very important” and only 13% regarding the treaty’s ratification as unimportant.

“A yes vote will not solve all our problems, but it is part of the reforms needed to get the European economy back on track,” added Mr Butler.