The umbrella body for Irish Co-ops, which represents dairy Co-ops and livestock marts, has today advocated a 'Yes' vote in the upcoming EU Fiscal Treaty referendum.
The associated businesses of the Irish Co-operative Organisation Society (ICOS) have a combined turnover of around €12bn, employing 12,000 people in Ireland, and a further 24,000 overseas.
ICOS said that its co-ops are about to embark on a major investment and expansion programme and that the future success of its members is heavily dependent on Ireland's ability to export outside the domestic market, which it maintains is dependent on ratification of the treaty.
ICOS President Pat McLoughlin stated: “The passing of this treaty is an opportunity to reaffirm Ireland's commitment to a stable and sustainable European economic model and it will provide our economy with the insurance of access to the European Stability fund, should we require it.
“This reform aims to restore confidence and certainty to the European economy and it will enhance Ireland’s prospects of an economic recovery.
“We must promote fiscal discipline and a determined and co-operative approach across Europe to support growth and job creation in Ireland
“The EU must also use the opportunity which the stability treaty provides to put in place an ambitious plan to drive growth and to support job creation. It is abundantly clear that an economic stimulus and incentives are required to fight the European recession.”