Directors: 'No' vote in Fiscal Treaty referendum 'would impact funding'

Members of the Institute of Directors in Ireland (IoD) have indicated their overwhelming support for a 'Yes' vote in the upcoming EU Fiscal Treaty referendum.

Members of the Institute of Directors in Ireland (IoD) have indicated their overwhelming support for a 'Yes' vote in the upcoming EU Fiscal Treaty referendum.

Research conducted with IoD members found that nine out of 10 (88%) directors surveyed, intend to vote in favour of the EU Fiscal Treaty.

Of the remainder, 8% remain undecided as yet, with just 4% of directors intending to vote 'No'.

Almost nine in 10 (87%) directors surveyed believe that securing a 'Yes' vote is important for Ireland’s future relationship with Europe and a further eight out of 10 (83%) directors see the ratification of the treaty as being important for the protection of the Eurozone.

Investor confidence is considered to be a key factor in the debate, with more than 8 in 10 (84%) directors believing that a 'Yes' vote will increase investor confidence in Ireland’s economy.

In addition, two thirds (66%) of directors surveyed are confident that ratification of the treaty will ensure adequate budgetary discipline in Ireland in the future.

Maura Quinn, Chief Executive of the Institute of Directors in Ireland, said: "Returning a 'Yes' vote is considered by directors to be vital for the future prosperity of Irish business. Demonstrating economic maturity and fiscal and budgetary responsibility is necessary in order to create the level of stability required to grow investment in Ireland.

"Ireland is a gateway to Europe and offers significant opportunities for foreign direct investment. A 'No' vote could serve to undermine our credibility internationally and impact on our ability to access vital funding.

"Ireland’s relationship with Europe has reached a pivotal point. We need to demonstrate our commitment not only to the Eurozone but to also doing what is needed for the long term stabilisation of our economy."

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