Early indications show that the Irish people have backed the European Stability Treaty in a nation-wide referendum held yesterday.  ALDE welcome this result underlining that the significance of an Irish "Yes" cannot be underestimated. Saying "No" would have lowered Ireland's credibility in the financial markets and have cut Ireland off from ESM funds which would have been disastrous. 

Guy Verhofstadt welcomed the result  "The Irish people have made concerted efforts to return to fiscal rectitude but they also need to be reassured that this endorsement of the Treaty will in the future lead to growth.  The present fiscal consolidation in Ireland, as in other countries, is painful to bear but would have been necessary whether or not this Treaty existed. Voting yes in this referendum was the right way forward and Ireland will see the benefits once the full effect of the corrective provisions of the new treaty will come into play."

Pat "the Cope" Gallagher (FF, Ireland)

"I am very pleased with the early indications suggesting a strong Yes vote. The Treaty will ensure that Ireland has access to the European Stability Mechanism, if required. This brings a degree of certainty to our public finances as the Irish State will be able to apply for assistance, at sustainable interest rates if needed. The ESM is an important safety net for Ireland and the Eurozone. I have consistently maintained during the referendum campaign that stability and growth are two sides of the same coin. The housekeeping rules contained in the Stability Treaty can help to pave the way for future growth by ensuring a positive climate, conducive for investment and job creation."

Marian Harkin (Independent, Ireland) also welcomed the result:

"Early results showing approval for the Stability Treaty is a good result for Ireland and for the Eurozone but just one piece of the jigsaw puzzle, and while fiscal discipline and fiscal responsibility are part and parcel of being part of a common currency, these rules must be accompanied - and soon - by a growth compact and ideally a roadmap for project bonds, Eurobonds and some kind of redemption fund to bring down excessive debt".