ECONOMY:A NO vote to Lisbon would be seen as a withdrawal from Europe, our most lucrative export market and our greatest source of support during the current economic crisis, Minister for Finance Brian Lenihan said yesterday.
Rejection of the treaty in the referendum on October 2nd would be seen by financial markets as Ireland voting against its own economic interests, he added.
Speaking at a Fianna Fáil press conference in support of the Yes campaign, Mr Lenihan said he was very satisfied at the commitment to the campaign shown by the main Opposition parties, Fine Gael and Labour.
“A No vote will damage the hand of any Irish government. That is one of the reasons why the main Opposition parties are so committed to getting a Yes vote because they recognise that if they are in government they will have a poor hand after a No vote,” the Minister said.
The legally-binding guarantees obtained by the Irish Government since the last referendum had cleared the ground for the real argument, which was about the economy, he added.
Pointing to the fact that future economic growth was dependent on exports, the Minister emphasised the EU was by far the largest export market for Ireland.
“Only by working with our EU partners can we stabilise the economy, create jobs and restore confidence. It is also significant that the EU has provided a lifeline to our financial system in the current crisis,” Mr Lenihan said.
He said official figures showed that the dramatic rise in Irish living standards in recent decades had taken place in line with increased exports, and we could not ignore the fact that two-thirds of our exports went to the EU.
“A Yes vote will send out the message that we want to sell goods and services to, and attract tourists from, other EU states. A No vote will be seen as a withdrawal from Europe, our greatest support and most lucrative market.
“The No side says that the EU will stay the same if the Irish people reject the treaty. While that is formally correct, as a matter of law, the crucial issue is that Ireland’s place in Europe will not remain the same. Ireland will lose a lot of goodwill so it is crucial that we send out the message that we are part of Europe.”
He also said the EU had provided a lifeline to the country’s financial system during the ongoing banking crisis. Without the support of the European Central Bank “not only would our financial system have collapsed but it would have been impossible to repair it and put a proposal like Nama forward”.
He said those on the No side who claimed that funding would still be available irrespective of the referendum result were ignoring the crucial issue of goodwill to Ireland from the ECB and also in financial markets.
Mr Lenihan also welcomed the clear statement from the Catholic bishops that a Catholic could “without reserve and in good conscience vote Yes”. He said it should never be forgotten that Christian Democrats were the founders of the whole European ideal.