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Irish voters give OK to EU deficit-fighting pact

Ireland's voters have agreed to ratify the European Union's deficit-fighting treaty with a resounding 60.3 percent "yes" vote, but government leaders and pro-treaty campaigners expressed relief rather than joy because of the stark challenges ahead.

The treaty's approval relieves some pressure on EU financial chiefs as they battle to contain the eurozone's debt crisis. But critics said the tougher deficit rules would do nothing to stimulate desperately needed growth in bailed-out Ireland, Portugal and Greece, nor stop Spain or Italy from requiring aid.

Prime Minister Enda Kenny agreed, stressing in his stern-faced victory speech June 1 that the Irish voters' verdict would strengthen his hand as he seeks, with many other European nations, to shift Germany's opposition to boosting growth through government spending.

"I have consistently argued that budget rules alone will not be enough to overcome the economic crisis that faces Europe. They must go hand in hand with a real and concrete growth program for Europe," Kenny said. (AP)

Shukan ST: JUNE 15, 2012

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World News Irish voters give OK to EU deficit-fighting pact Ireland's voters have agreed to ratify the European Union's deficit-fighting treaty with a resounding 60.3 percent "yes" vote, but government leaders and pro-treaty campaigners expressed relief rather than joy because of the stark challenges ahead. The treaty's approval relieves some pressure on EU financial chiefs as they battle to contain the eurozone's debt crisis. But critics said the tougher deficit rules would do nothing to stimulate desperately needed growth in bailed-out Ireland, Portugal and Greece, nor stop Spain or Italy from requiring aid. Prime Minister Enda Kenny agreed, stressing in his stern-faced victory speech June 1 that the Irish voters' verdict would strengthen his hand as he seeks, with many other European nations, to shift Germany's opposition to boosting growth through government spending. "I have consistently argued that budget rules alone will not be enough to overcome the economic crisis that faces Europe. They must go hand in hand with a real and concrete growth program for Europe," Kenny said. (AP) Shukan ST: JUNE 15, 2012 (C) All rights reserved