Ireland and the European Stability Treaty
In the Dáil yesterday, Taoiseach Enda Kenny stated that a referendum would be held regarding Ireland's participation in the European Stability Treaty (click here for Irish Times coverage). This referendum adds to the uncertainty surrounding the euro, and a 'no' vote in the referendum would raise series doubts about Ireland's participation in the euro. The EU may now be tempted to buy off Irish voters to ensure a 'yes' vote in the referendum.
Raymond Crotty, an Irish economic historian, instigated a High Court action against the Irish government in 1987, which resulted in the ruling that all significant changes to EU treaties required an amendment to the Irish constitution. Amendments to the Irish constitution can only be made by holding a referendum. At least the Irish electorate, unlike most of their EU contemporaries, are getting a say on the European Stability Treaty!