If you would like to submit a contribution to our Readers Blog section then follow this link. Be sure to include your full name, address and contact number otherwise your submission will not be considered for publication. We will contact you prior to publication.

Treaty will strengthen exisiting rules and stop repetition of errors

The debate on next week’s referendum on the Fiscal Stability Treaty is in danger of becoming obscured by a plethora of issues that have nothing to do with the text of the treaty.

Many of those advocating a no vote have deliberately attempted to detract from the contents of the treaty by claiming that it relates to issues such as taxation. It does not.

The treaty is not about the range of issues that the no campaign would like it to be about. Neither does it prescribe a particular economic policy, either of the left or right. Rather it is an attempt to ensure that the eurozone member states act responsibly in balancing their budgets so as to avoid a repeat of the current financial crisis.

Yes, it does constitutionalise the concept of a balanced budget and gives a stronger legal basis to ensure that countries do not engage in reckless borrowing in the future. It is precisely because of such recklessness on the part of past Irish governments that we find ourselves in our current economic predicament. The adoption of the Fiscal Stability Treaty can only be of benefit to Ireland.

Furthermore, those advocating a no vote continue to deny the basic fact that only through ratification of the treaty will Ireland be guaranteed access to the European Stability Mechanism Fund. We can debate the need for a second bailout in the future and the availability of loans from other sources, but the fact remains that only a yes vote will assure the people of Ireland of guaranteed funding in the future.

This is a simple treaty that attempts to strengthen existing rules so as to prevent the errors of the past from reoccurring. It is based on pre-existing rules and concepts. For nearly 40 years the application of rules relating to the European Union has served Ireland well. Now is not the time to turn our back.

Declan J Walsh Lecturer in European Union Law

Faculty of Law

University College Cork


Lifestyle

Children’s author Sarah Webb didn’t want sixth class pupils to miss out on their graduation, so to mark their end of year she organised a series of inspirational videos delivered by well-known Irish people, says Helen O’CallaghanIrish celebrities help students say goodbye to primary school

We are all slowing our pace and appreciating the wonders around us, says Peter DowdallMagical maple holds us spellbound

Sustainable gardening tips and a fascinating documentary are among the offerings on your TV todayThursday TV Highlights: A Prime Time look at how schools will cope in the Covid era features in today's TV picks

More From The Irish Examiner