Martin calls for international action to boost economy

Sat, Jun 2, 2012, 01:00

YES CAMPAIGN REACTION:FIANNA FÁIL leader Micheál Martin has called for international action on the economy by the Government following the passing of the fiscal treaty.

“The Taoiseach should immediately undertake a serious diplomatic initiative in support of essential measures to restore growth and job creation,’’ he said.

His call was echoed by business organisations that welcomed the Yes vote, but said it must be accompanied by measures to boost economic growth.

Mr Martin said the “welcome result” showed the Irish people wanted the EU to take a lead in sorting out the biggest economic crisis since the second World War.

“This is a good step, but now is the time to actually increase the urgency of discussions about saving the euro and returning Ireland and Europe to growth. This treaty is not enough to tackle the crisis – and there is very little time left for other reforms which are needed.’’

Mr Martin said his party had refused to use the referendum for short-term political gain, and he was happy Fianna Fáil members, supporters and the public responded in such numbers to that constructive approach.

Green Party leader Eamon Ryan said that while many people had voted Yes out of fear, it was also a statement that the people would be able to play their part in managing the crisis.

“The Yes vote gives the Government a mandate to go back to Europe looking for help in managing our debts and stimulating our economy,’’ he added.

Danny McCoy, director general of the biggest business lobby group, Ibec, said the Yes vote would provide greater economic certainty. However, he said: “Budget discipline alone will not solve our economic problems. Much greater focus is now needed on promoting growth.

“The June EU summit must deliver an ambitious plan to boost investment and job creation.”

Ian Talbot, chief executive of Chambers Ireland, the chambers of commerce umbrella group, also said the referendum result was good news. The Government should work with the EU and the troika to get the most sustainable deal possible on the Republic’s sovereign debt and cut the cost of running the State, he added.

Welcoming the Yes vote, the chief executive of the American Chamber of Commerce Ireland, Joanne Richardson, said it would enhance the Republic’s competitiveness by helping to create a more stable economic environment and give certainty and confidence to multinational investors.