Business groups fear EU dimension may be weakened

BUSINESS REACTION:BUSINESS GROUPS have expressed dismay about the outcome of the referendum, citing fears of a weakening European dimension in Irish business, while unions have said they are satisfied with the result.

Ibec had campaigned hard for a Yes vote, and last night was disappointed by the rejection.

"This treaty was always about making Europe work better so it would be stronger in the world. When the fog clears, the challenge for all of us is to see how to do this without weakening Ireland in Europe, or Europe in the world," said Ibec director general Turlough O'Sullivan.

The Irish Banking Federation (IBF) had strongly supported the treaty, and was a member of the Business Alliance for Europe, which enlisted 36 members and co-ordinated and led a campaign for a Yes vote.

Other members included the Construction Industry Federation, the Irish Software Association and the Institute of Chartered Accountants in Ireland.

"We were behind the Lisbon Treaty because of the importance of the continuity of the EU agenda in Ireland, not least for the financial services sector," said Felix O'Regan, IBF spokesman.

He acknowledged that the association was disappointed with the result, but he conceded that "democracy takes its course".

Chambers Ireland, which represents 13,000 businesses in Ireland, also expressed disappointment at the result.

The group's president, David Pierce, noted that all sides "should now take time to assess its implications".

However, while most businesses may have supported the treaty, there were some dissenters.

Mark Fielding, chief executive of the Irish Small and Medium Enterprises Association, said his association had taken a neutral stance on the treaty.

He added that he does not think a No vote will have a major impact on Irish business in the longer term.

"It's not all doom and gloom, and I don't think it's the end of the world," he said.

The trade unions Unite and Siptu, which had both supported a No vote, welcomed the outcome.

Jimmy Kelly, regional secretary of Unite, said it was a "fantastic achievement".