Fiscal Treaty: Trade unions come together to urge Yes vote in Thursday’s referendum
A GROUP of trade unions have come together to urge a Yes vote in the fiscal treaty referendum on Thursday.
Impact general secretary Shay Cody said the No campaign was asking the Irish people to take a huge risk.
Secretary of the Charter Trade Union group Blair Horan warned such a vote could lead to a default on our debt and an exit from the euro, which could cost Ireland €11,500 per person in the first year alone and €4,000 each year after.
He said it was obvious the European Stability Mechanism (ESM) bailout fund would be the only option for Ireland in 2014 if Ireland remained priced out of the bond markets.
Mr Horan, who was formerly general secretary of the Civil Public and Services Union, also said that without access to the fund, public sector workers would face “savage” pay cuts. pay for public servants, pensioners and those on social welfare benefits would face cuts, which he described as "savage".
The secretary general of the Communications Workers Union Steve Fitzpatrick said a Yes vote was central to maintaining the confidence of the foreign investment community.
Earlier, Finance Minister Michael Noonan said there was no room for complacency and Irish people should know the full implications of a No Vote before they make their decision on Thursday.