IBEC: Rejecting treaty would be seen as reckless

IBEC has today stated that a No vote in the Fiscal Treaty referendum would be interpreted internationally as a very reckless move.

The employers' group met with leading Irish business people this afternoon, to highlight the importance of voting Yes on May 31.

IBEC said that a Yes vote would restore badly-needed confidence in the retail sector and bring certainty to the financing of the Irish economy in the next few years.

Director General of IBEC, Danny McCoy, said that it does not make sense to reject the treaty.

"It's extremely important because a No vote would be interpreted in many ways, and it would be interpreted as a fairly reckless move for a society already in a programme with access to credit, basically, moving away from a secure line of credit," he said.

"No household would do this and I don't think we should do it as a society or an economy."