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Ireland: more austerity if EU treaty rejected

Ireland: more austerity if EU treaty rejected

Ireland's government is warning voters they will suffer worse austerity measures if they reject Europe's fiscal treaty this month.
Finance Minister Michael Noonan says the government would be forced to impose a 2013 budget containing higher taxes and sharper spending cuts if voters reject the treaty in a May 31 referendum.
Eurozone members that reject the treaty will be blocked from tapping new EU rescue loans. Ireland is the only eurozone member subjecting the pact to a public vote.
Anti-treaty campaigners are urging rejection in hopes of reducing budget cuts, but Noonan says the opposite would happen.
"If there's a `no' vote, the budget I'll be planning for later in the year will be dramatically more difficult than if there's a `yes' vote," Noonan said Tuesday.


Updated : 2021-03-05 03:49 GMT+08:00