Ireland’s ratification of the Stability Treaty would be a small ,but important, step in that process.
Nobody loves austerity.
But if the alternative to austerity is adding to your debt , all you are doing is asking your children to undergo the austerity on your behalf. And asking them to undergo much greater austerity , because they will have to pay back interest as well.
Young people, who are being targeted by the NO campaign should reflect on that.
The No campaigner actually want to saddle Irish young people with a lifetime of paying off their parents debts, or of leaving the country to avoid doing so.
That is the logical outcome of the crowd pleasing, truth avoiding, message of the No campaign.
The Stability Treaty adds little to measures already in force under the authority of Treaties already ratified by the Irish people.
It simply requires us to do what the Government is doing anyway, putting in place a debt brake and independent Fiscal Advisory Council to prevent phoney budgeting by Irish Governments in the future.
Austerity has come to Europe because lenders are suddenly wary of lending to Governments. For everybody’s sake, we have got to make lenders confident in lending to Governments again.