'No positive reason' for No vote - Cowen

An Taoiseach Brian Cowen tonight said there was "no positive reason to vote No" in the Lisbon Treaty because the concerns of voters who opposed the document last year had been addressed.

Mr Cowen said the treaty being offered to the public on October 2nd was a different package to the one rejected last year, as legal guarantees clearing up concerns about taxation, abortion and neutrality had been secured.

He told RTE Primetime that he believed the treaty's ratification was crucial to Ireland's economic recovery and future prosperity.

"We're making a decision here which is strategic," he said. "We're talking about how we can secure our future and how we can make better prospects for our kids and it is fundamental that the relationship between Ireland and Europe remains.

"We have to make sure that on October 2nd we don't make a decision that marginalises us...What positive reason is there to vote No? The basis for concern from the last time have been dealt with."

Mr Cowen said Ireland's economic success in recent years was largely because of EU membership and that thousands of jobs had been created by companies operating in EU markets.

He said Ireland would not find itself out of the EU on October if the treaty was rejected, but that the country's influence in a union seeking to move forward through the Lisbon Treaty and reform itself would be affected.

"This is a national decision and if people want to move from where we are and make a positive action forward voting Yes on October 2nd provides that opportunity."

Speaking about the National Asset Management Agency (NAMA), Mr Cowen said the proposal was not a gamble, but rather a well thought out attempt to get credit flowing in the State again.

"This is a considered proposal based on the best domestic and international advice," he said.

"Our whole motivation here is very simple. We're devising a mechanism to get more credit into the economy and we're seeking to protect the interests of the tax payer."

Mr Cowen said that by taking action teh Government was attempting to prevent the economy from going "belly up". He said investment by the Government in the banks earlier this year had made sure there would be a return to the tax payer and stressed that loans were being bought at a knockdown prices which would maintain there value before being put back on the market.

He said the Nama proposal was not a bailout for developers- as they will owe the same amount to the Nama as they currently do to banks covered by the agency.