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Business leaders back EU fiscal compact treaty - IBEC survey

A survey by the employers group also found strong support for Ireland’s continued membership of the eurozone.

File photo
File photo
Image: PA

IRISH BUSINESS LEADERS have shown strong support for the EU fiscal compact treaty, according to a survey by the employers group IBEC.

The Irish Business and Employers Confederation (IBEC) has surveyed almost 300 chief executives and found that there is also strong support for Ireland’s continued membership of eurozone.

Nearly three-quarters of those who responded to the survey (73 per cent) said Ireland’s ratification of new fiscal compact  was important to the future prosperity of their business.

The Attorney General is currently considering whether or not the government needs to hold a referendum on the treaty agreed by EU leaders earlier this year. The Taoiseach said last week that a decision is expected “in two to three weeks”.

Thirty-eight per cent of respondents to the IBEC survey said that the treaty’s ratification was “very important” while 13 per cent regarded ratification as unimportant.

“The fiscal treaty is an important step towards restoring confidence and ensuring that future economic growth in the EU is put on a sustainable footing,” IBEC policy director Brendan Butler said.

Nearly 90 per cent (88 per cent) of respondents said that Ireland’s membership of the eurozone was important to the future prosperity of their business, nearly 60 per cent of them said it was “very important”.

IBEC, whose members employ more than 70 per cent of the private sector workforce in Ireland, said that the eurozone accounts for over €60 billion or 38 per cent of the value of Irish exports of goods and services.

Read: EU treaty is ‘not a solution to euro crisis’ – former Lenihan advisor

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Hugh O'Connell

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