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MICHAEL NOONAN has said he stands by his controversial comments from yesterday, when he said a No vote in the Fiscal Compact referendum would result in a “dramatically more difficult” Budget this December.
Speaking after a meeting of the European finance ministers in Brussels, Noonan insisted a No vote would “create uncertainty and a lack of confidence” which would ultimately curtail investment into Ireland.
The minister said this would then require him to lower his expectations for economic growth in 2013, which would require a more ambitious Budget in order to meet the targets laid out under Ireland’s bailout programme.
“We’re expecting growth of 2.2 per cent in GDP next year,” Noonan told reporters. “The uncertainty caused by a No vote will cause that to come down.”
Noonan also said the fact that Ireland would be blocked from accessing the European Stability Mechanism bailout fund would mean lenders could be less willing to lend to Ireland when the EU-IMF programme ended in mid-2013.
“In my view, in planning the next Budget and the one after that, because of the absence of growth and the uncertainty of funding, any Minister for Finance would be in a position where if planning it, he’d have to be looking at more austere measures.”
Noonan also criticised Sinn Féin for accusing him of seeking to bully the electorate into a Yes vote.
This idea because you can’t have a debate because it upsets Sinn Féin… Sinn Féin might be afraid of the truth, on a number of issues, but the Irish people aren’t afraid of the truth.
We appreciate that the Irish people have made a lot of sacrifice, and we think we can correct this [...] I don’t want to be put in a programme where we have to increase the pace of the correction.
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A no vote would also result in keeping our dignity
…..and a sense of National Pride . We can succeed in pulling ourselves out of this ,IF we are all in it together .
OMG…..This website…
Declan Cotter
Have you a problem with National pride and integrity ?
give me a break!! It was always gonna be a tough budget regardless of the outcome of this referendum – politicians need to stop wasting time telling us stuff we already know…
Michael Noonan looks like a big ugly baby in a suit
‘There is a commitment that if countries continue to fulfil the conditions of their programme the European authorities will continue to supply them with money even when the programme is concluded,’ Noonan said on RTE’s News at One.
Kenny says a second bailout is not required..???
http://www.independent.ie/breaking-news/national-news/kenny-second-bailout-not-needed-2987622.html
@Conor Whats the point in a comment like that ? Childish insults like that do absolutely nothing for the no side.
Yeah Michael, you should apologise to all the ugly babies out there for comparing them to Noonan.
He was such an ugly child when he visited never land he slept in his own bed.
seriously people, is there no way we can throw out this government for fraudulently gaining entry to power? We need the next election commitments to be binding or it triggers a interem vote to remove them. Bare faced lies and arrogance to add insult.
I agree ZO! There is no accountability. This must change!
*and no I don’t mean the change FG supposedly promised pre election, that we are STILL waiting for!!
”Difficult” Michael?
Does this mean that you are going to have to do some work?
Heaven forbid!
Your budget is already set Noonan and it’s set to kill. The only thing you’re waiting to see is what speech you will use. The “I told you so” or “imagine what it would have been like if you voted No”. It the same damn budget and everybody knows if. Smoke and mirrors from an incompetent bully. The powder monkey on the rudderless ship of Government.
I would well believe the budget has already been set by europe for quite a number of years to come, based on a second bail out and a yes vote. I am voting no, I will not be bullied into a yes vote by someone I have no respect for and someone I believe has no regard for Irish citizens.
Probably , won’t be his Budget by then anyway – if Baldy Noonan keeps Gaffing at the rate he has to date , he will be the ex Finance Minister , him and that idiot of a Minister from Kilkenny, Feckup Phil ,along with Leo – ‘Knows Everything’ Varadkar and ‘Lucky’ Lucinda Creighton!
Where will Enda be then too ?????
Let’s all just get on with it and Vote No!
Bully.
Dead right. In essence what he said was: “If you people vote NO I am gonna tax your ass right out of it.”
That’s what I call a threat.
Will you be taking a pay cut in this years budget noonan? I think you should and the rest of your party, 30% paycut at least, you will still be one of the highest paid TD’s in Europe
We know we are in for tough budgets Noonan. Paying other people’s debt will make sure of that. Stop trying to influence the outcome of the referendum. The referendum your party tried so hard to prevent. Vote NO!
He has kept very quiet about the billions we have to provide to the ESM annually within 7 days of it being asked also to keep it’s 700 Billion pool topped up.
Or the hundreds of millions in fee’s which can be incurred on us when we struggle to get within the IMF’s guidelines which we will never be able to meet if we are still burdened with:
State expenses, bank debt, foreign bond holders and now this 5-7 billion Euro a year for the ESM when we currently cant manage to cover state running costs. Why do the Yes side want us to sign up to availability of funds only to pay this out? Get our house in order and regain some weight in getting a write off of German debt.
It’s simple not possible by any stretch of the imagination to pay all of this without requiring more loans which will eventually have to be REPAID WITH INTEREST.
Utter madness to agree to such terms and to recognise such an establishment.
I thought the aim was to fix our economy and get out from under such large foreign debt and pressure.
@damhsa. .. I want to report your comment ! … For being the most succinct and informative summation of this argument to date !!! Kudos 2U
Paying for our own social welfare, police, old age pensions etc. more like… the bank debt is the small end of the wedge… In the first 4 months of this year its has cost 7 million to run the state more than we take in on taxes…
By the way, why you have to change your name Reada Quinn??
He’s expecting 2.2% growth next year? The man has truly lost the plot……
Growth of 2.2% in his own salary probably.
Noonan is pig headed and arrogant.
Both Noonan and Hogan are well met. Both love to bully and blackmail their voters
I’m not a Sinn Fein member or supporter, just a humble voter. One of those “peasants” you clearly hold in so much contempt Mr Noonan … and I also say that you’re trying to bully us into a yes vote.
The “debate” has been marked by the refusal of anyone in the Irish government to address the issues. The Fiscal Compact is scorned by many leading economists (no selective quotes) who believe it will lead to economic suicide for Europe. Instead of addressing these questions, you bury your head in the sand and shout about how it’s going to lead to a harsher budget if we vote No.
Stop the train! I want to get off.
Good find Censored!
Everybody loves it when men and women well insulated against austerity, cuts and poverty threatens to inflict more austerity, cuts and poverty on them if they don’t do as they say
2.2% me arse, how can they stand by those figures again after our abysmal previous year. Especially when we will be experiencing more austerity in the next budget regardless of the fiscal compact.
It’s pure bull, lies, tripe from a failed government policy that only ensures their bosses get their money.
Pls Eire pls vote No. Make a stand for once and do the right thing!
more like noonan fearful of his own pocket.it all bollatix and blackmail.thay should have thought about this before putting pen to paper.or chalk to slate.
I honestly think there should be some clause where Ministers get forcibly ejected over this.
If growth is lower than expected, then cutting further would be disastrous. You are not remotely qualified to hold the position you do.
Noonan is an evil little leprechaun who salivates over his pot of gold. He also has the most passive-aggressive voice I’ve ever heard.
I for one am not afraid of the truth … Last night we got a glimpse of FFg/Labours attitude to our corporation Tax rate. Miceal Martin stated during the debate, the Yes camp want more Tax harmonisation in Europe. Sarkozy also called for the same harmonisation, and referred directly to Irelands corporation tax rate during the same speech. Sarkozy wants to see our Corporation Tax Rate increasing… This would see up to 300,000 more people on the dole.
Yes, we want honesty Mr Noonan… Can you spell out how Ireland will survive as a nation, if the Yes camp get their way and then sell our corporation tax rate down the swanny for another scratch behind the ear?
I nearly wet myself at the end of the debate when Micheal Martin said that Fianna Fail only want what is best for the Irish people! Arrogant so and so that he is!!!
Blackmail and threaten 1 person and you’re a criminal, blackmail and threaten a whole nation and you’re a Fine Gael minister.
No to the lies
No to the blackmail
NO on the 31st.
Isn’t he forgetting that there’s no guarantee we will be able to access the ESM? We may have access as a member country, access we have to front €11billion for, and have no guarantee of access to. If Spain needs it then we won’t get a look in..
Never mind the fact that they *can’t* let us fail without dragging down the whole euro. It’s cheaper to bail us out than let the contagion spread.. Without us paying off German and French banks they go down the swanney too.
Even the dogs on the street can see that this treaty does nothing to help..
We have as much certainty of accessing the ESM as we do the IMF. The yes side are relying solely on fallacy for their argument, which is why I refuse to let our constitution be affected by their nonsense ramblings..
Still voting no. It’s screw Irish people and give all power and control to Germany. Get the boat. If we go down the rest of Europe goes to as if they will let that happen. Idiotic scare mongering.
Well quess what Noonan i’m voting No
He’s some hateful little troll. If he told me today was Wednesday i’d have to check my calendar to make sure the snake wasn’t lying again.
Typical, he’s a tried and tested thick from the last time FG where in government, so the Irish thing to do is give him one of the most important ministry because it’s just crazy enough to work.
How much longer will other european leaders put up with the outrageous Td salaries while bailing them out ? a No vote might at least force the issue.Noonan you’re a pathetic little bully even uglier on the inside.
Best case scenario: A resounding No to continuing the socialisation of bankers debts while the puppet masters in the financial institutions enforce their reprehensible austerity treaty triggers this regime to collapse leaving this bully and his ilk out in the cold. Wishful thinking I guess.
of course it will be hard if we vote no. but voting yes means massive cuts post 2015 and no chance of investment so we will nvr get the country back on track.our children and their children will be left in a life of poverty with no way out being run by eu. so if we vote no and eu dnt loan to us if we need then i think we are better off out. who wants to be part of a union that puts a gun to your head to get their own way?? so if they wnt loan to us which i doubt very much they would leave us high and dry no matter what gov say, there is the imf and the markets. and if they all turn their back then f**k them all and we default and leave the euro. there will be hardship but we will be in control. why would we vote yes and kick the problem dwn the road to future generations to deal with? cos they will be trapped in a cycle of poverty with no way out cos eu will be in control. i am afraid of whats in store but i am willing to suffer to give my kids a fighting chance in their future. in my opinion their future only has a chance if we vote no
Dead right nuala would rather we not kick the can down the road but attempt to tackle the problem now. this fiscal compact is a stepping stone that leads to a black hole of spiraling debt that will lead to our children’s children paying for a problem that should be resolved now. Why aren’t our governments prepared to tackle the orchestrators of this current crisis. No one has been held to account. Ignoring this fact is the real issue. Voting no because there is no sense to this treaty it does not resolve or help anyone except the ones who own the debt and the owners gambled to much hence the credit crunch.
At the outset of this treaty I was undecided, in theory it seems a good idea but how can you trust the European leaders to run it properly and after Noonan ‘s statement yesterday he has made up my mind, I’m voting NO. Noonan is nothing but a fat ugly lying cheating dictator bastard. How dare he threaten the people of Ireland and show such contempt towards us.
Noonan is quoting his growth predictions as reality, he has had to revise every growth projection since he took office. If we vote NO and he has to (will)revise again he will just blame the voters.
This man has no soul, ask the 12 children of the late Brigid McCole!
He has no qualms about turning the screw on us.
He is a Rat trying to frighten Irish Citizens to give up their freedom and hand over control of our country to Europe. Does he forget our Forefathers gave up their lives in 1916 for our freedom to govern our Country. VOTE NO FOR FREEDOM. VOTE YES TO HAND UP OUR FREEDOM TO EUROPE
my thoughts exactly, had to stop reading after that. Maybe we could export him to America to help Newt Gingrich work on his moonbase?
I heard Numpty Noonan is to announce that Ireland will be kicked out of some Euro soccer cup that’s happening in Russia next month if its a NO vote!
Silly.
Gonna keep posting this….!
When is the no side going to present the people of Ireland with a comprehensive set of proposals about how we fund schools, hospitals, social welfare, dole etc. if we vote no.
We do need that….like…. yesterday!
Mmmmm,
think you left out ATMs there!
@ IE. The no side have spelt it out to you several times in various threads and yet you keep dishonestly contending tht they have not. Change the record or at least display some integrity for Gods sake.
It’s all rather simple eclipse! We vote no, we tell Europe to F— off! If they won’t give us a massive debt write-down, we default on all debt! We then reinstate the Punt, and work our bollox off for the next 5 years! Produce stuff at the right price, and Bob’s your uncle!
Well said, IE. You might have used strong language but sometimes you need to call crap for what it is: crap.
How can the goverment not know how little condifence the people of the country have in them. They have done nothing but lie think of the money we could save if we gave all of them the sack and we had 26 people up there sorting things out
It’s Official. Journal.ie is a forum for IRELAND SAYS NO on every issue – no to household charge, no to water charges, no to fiscal treaty. And a forum to call politicians in government every insulting name under the sun. Do you not all get tired of b..ching and moaning about everything??
Hate to state the obvious to you pearse, but people from ALL political persuasions have equal and ample oppertunity to post their opinions here.
Did you ever consider that maybe the usual FG cheerleaders are having trouble excusing the inexcusable i.e. the blackmail and threats?
Interesting point of view, pearse. I would not expect the commenters on the journal articles to be a balanced representation of the people of Ireland. Many people have not the time nor the inclination to make statements in an open forum. Commenters generally have an axe to grind and some just want to let off steam. Others just want to have fun. Some can be quite enlightening and that makes it worth going through quite a bit of repetition. Enjoy the comments for what they are. You know the saying, keep you friends close but keep your enemies closer.
Nice to see that the blue shirts have arrived.
So Noonan spells it out and people are up in arms while the NO campaign refuse to articulate what a NO vote would do to this country…
O Reilly i have read several items on what a No vote would do,either your’re not looking hard enough or you just don’t acknowledge there is an alternative to a yes.
Norman, sum it up for me…
Norman,
Some of these guys want, it seems, to bore us into submission.
I’ve started just to copy and paste the same answers.
Saves buckets of time!
No,go look that will prove your willing to make a balanced opinion.
I call that bolloxology!
A chewing tax will help us all out !
I see noonan, but think Jaba the hut
Boonowa tweepi, ha, ha!
People want the truth and when they get told the truth they don’t like it. Want to be told fairy stories instead time they grew up and faced facts.
Were funded till 2014 so how does a No vote affect 2013
Also telling the truth is an alien concept to this government.Are you forgetting the lies told before,during and after the election because i haven’t.
eh Norman, a NO vote would require us to “save” now for 2014. That means am even more austere 2023…
O Reilly no reflection on you but i have formed the opinion that unless a poster states they are firmly in the Yes camp there is no engagement in reasoned debate,other than sneering contempt.I will restrict myself to convinceing family and friends to vote No.The rest of the BS i will leave to those happy to engage in it.I bid you goodnight to the 1st of June
Goodnight Norman!
Facts are, mcbab, the budget targets and ratios for this year were set by FF and the troika at the start of the bailout program, all noonan can control is how to distribute the austerity across the various sections of society. So he is lying to say he HAS to make it more severe overall, what he is doing is threatening to put more of the predetermined austerity on the backs of ordinary people. And that is threatening our most vulnerable and working classes.
You seem to have no problem with this.
“Facts” are, mcbab, the budget targets and ratios for this year were set by FF and the troika at the start of the bailout program, all noonan can control is how to distribute the austerity across the various sections of society. So he is lying to say he HAS to make it more severe overall, what he is doing is threatening to put more of the predetermined austerity on the backs of ordinary people. And that is threatening our most vulnerable and working classes.
You seem to have no problem with this.
Eh it’s gonna be a difficult budget either which way, it will be more difficult to source funding cannot say bout the budget, if we vote no we don’t know what will happen its all hypothetical so saying there will be a difficult budget is wrong.
In reality the yes and no sides are making a shambles of this already entering tit for tat scaremongering and trying to score political points. In reality a no vote would probably result in us getting funding under the same terms OR even harsher it’s hard to tell.
Ayes vote will result in a level of short term stability but without a growth protocol and a few other issues addressed it is just kicking the can down the road. Even then however the result of a yes vote is uncertain just a tiny bit less uncertain then a no vote.
Any group that tries to tell you either vote will not lead to austerity is lying, as well as if they say it guarantees or protects services. People really need to research this on their own, there is no alternative being presented and neither side is actually fully discussing the treaty.
There is of course another elephant in the room, outside of a financial crisis the EU is on the way to a political crisis, as long as it is dominated by the national interest of the European Council the EU won’t work. Altiero Spinelli a advocate of a federal union commented that without democratisation of the Union all we are creating are impotent institutions that cannot perform or have no accountability.
btw eclipse… I see your point… thats what the government sais alright… in theory they are right…. it should instill confidence.
However the government said as well
Soft landing of the housing market, no salaries over 100k, no cutting in education budget, no watercharges
And on several instances we have seen that if if Italy germany Spain Portugal Holland as much as looks at their financial status the market takes another dip.
I dont BUY in to the THEORETICAL CORRECT ASSUMPTION that this treaty is going to to what they say
ASSUMPTION is the mother of all f ups… and we are only getting the bad side of this agreement if the rest of europe collapses (Greece Spain Italy)
It’s not hard.
A yes vote reduces risk to lenders and means we’re more likely to start borrowing for ourselves on the markets. If we don’t succeed, we’ve got the ESM as back up.
A no vote increases the risk to lenders and means we’re less likely to start borrowing for ourselves on the markets. If we fail, we’ve don’t have the ESM as back up.
Why should he take anything back or change what he says, the country is complaining already of the measures taken to reduce the deficit, voting no in the upcoming referendum will make life a whole lot harder. Fact.
People need to actually sit back and look at things the way they are now. No amount of protesting will change it, look at the Occupy movement. Look at Greece. It’s a debt that we all have to pay back, it’s not fair, but until politicians and other sectors are actually earning a reasonable salary we can’t change it.
Things are hard now, a no vote will make things harder. If you struggle and complain now, and vote no, you’re opting to make life harder and the hard times will be longer. People need to stop seeing the national pride and thoughts of the past and accept the only options open to us are the hard option, or the even harder option.
I hate to admit it but the man is right.
Do they not realise that the more they say, the worse it makes their campaign. Stop digging and let the people decide what is right for this company. Threats will not help you. We are a republic and the people will decide on their own, the road that Ireland takes as a country.
have your say