Three leading trade union leaders have said a Yes vote in Thursday’s fiscal treaty referendum was essential to protect employment, investment, public services and state benefits.
At a press conference this afternoon the general secretary of Impact Shay Cody said the No campaign was asking the Irish people to take a massive risk.
He said the No campaign had failed to identify a guaranteed alternative source of funds for the Irish Government.
“At worst, a No vote could lead to a situation where Ireland was unable to borrow in the international markets at all.
“With access to the ESM cut off this would lead to a sudden reduction in exchequer funding with dramatic consequences for social welfare benefits, pensions, public services, investment in infrastructure and domestic demand in the wider economy.”
Former CPSU leader Blair Horan said a Yes vote was essential to protect the value of the euro and possibly Ireland’s continued membership of the currency.
He warned an exit from the euro could see living standards in Ireland fall to the levels of the 1950s.
The general secretary of the communications workers union Steve Fitzpatrick said a Yes vote was central to maintaining the confidence of international business which invested in Ireland.
