Ireland backs EU fiscal treaty in referendum

Ireland has been pursuing a months-long campaign to refinance 30 billion euros
of bank debt and

Final results showed only five constituencies out of 43 voted “No”
to the German-led plan for stricter budget rules, with 60 per cent of the
electorate coming out in favour.

Ireland desperately needs Europe’s woes to ease if it is to rack up the kind
of export-led growth required to pay down its debt – set to peak at a
dangerously high 120 per cent of gross domestic product (GDP) next year –
and ease unemployment.

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