Ganley says Europe 'on precipice'


Businessman Declan Ganley has compared being asked to vote Yes in the fiscal treaty referendum to being offered a ticket for the Titanic. "That's one boat that there's no harm missing," he said.

Launching his posters advocating a No vote in the May 31st poll in Dublin this afternoon, Mr Ganley said he would have a "very small" budget of some €50,000.

He said Libertas, the organisation he founded, was now a think tank.

"There has been an unfortunate failure to address the millstone, the ball and chain, of bank debt that Ireland has been saddled with. Ireland us carrying a disproportionate share of Europe's bank debt and that needs to be resolved," Mr Ganley said.

"They are driving this Titanic into an iceberg. We have to say stop."

He also described the "democratic deficit" as being a "very serious juncture" in Europe, adding that democracy was now merely a "second thought" on the minds of the "various chancelleries" of Europe.

Asked about the Yes sides lead in opinion polls, with a poll in yesterday's Sunday Business Post putting the Yes side at 53 per cent, Mr Ganley said: "I love a challenge".

He said he could easily envisage a scenario in which voters were sent back to the polls to vote again if the Government parties did not like the outcome of the vote on May 31st.

"The future of Europe is on the precipice," he said. "Contagion is real and it can spread. The formula set out in this will not solve Europe's problems." Mr Ganley described the European Central Bank (ECB) as "detached" and "unaccountable".

He said it would have been better for the referendum to have been deferred.