Fianna Fáil TD Charlie McConalogue has said that a Yes vote in the Fiscal Treaty referendum on Thursday is the best way to ensure that Ireland’s focus in Europe turns to getting a deal on bank debt restructuring.
 
The Donegal North East Deputy said, “A Yes vote is the only way to we can be certain of having enough funding from 2014 and onwards as it would guarantee us access to the European Stability Mechanism (ESM).
 
“By voting Yes we can be certain of access to cost price financial support to fund vital public services in Donegal like our hospitals, schools, the gardaí and our social welfare system.   A Yes vote will also help to focus efforts after the referendum on restructuring our banking debt and implementing growth measures to create jobs in Donegal and across the country.
 
“A No vote on the other hand would mean that the country’s energy would be focused on lobbying other EU countries to find a way to meet our funding needs as a result of not having access to the ESM.   It would give other lenders an opportunity to put additional conditions on any funding secured and it would put Ireland very much on the negotiating back foot.   It is also likely that we would be charged a much higher rate of interest than the rate available through the ESM.
 
“This Treaty will not cure all our economic woes but it will lead to a more stable euro currency as all countries will be agreeing to sensible budgeting practices and will not be able to over-borrow in the future.  It is one step towards getting our economy back on track.
 
“Another key step is ensuring that the focus is firmly put on getting a restructuring of the banking debt.   A yes vote is the right choice to ensure this can happen.
 
“I am urging all voters across Co Donegal to consider what is best for Donegal and Ireland and to ensure they have their say in this important referendum.”