American Chamber of Commerce Ireland tells Irish to commit to the European Union
Leery of the EU, Irish told to take the medicine
Ireland's future prosperity and its continued ability to secure major U.S. investment will depend on it committing itself to the European Union and to the new budget-discipline treaty, the president of the American Chamber of Commerce Ireland Peter O'Neill told a gathering of executives on Friday.
O'Neill, who is general manager of International Business Machines Corporation in Ireland, told a gathering of top flight executives that Ireland, despite its small population, accounts for one sixth of all total investments made by U.S. firms in Europe.
"It is essential to ensure that the confidence of business in Europe, and of Ireland's role within it does not waiver," O'Neill said in a report that ran on Nasdaq.com. "As a country, Ireland has to make important strategic judgements about what its interests are and where they lie. The American Chamber is convinced that Ireland's strategic interest lies in being at the heart of the European project."
Currently the Irish government is awaiting advice from its senior law officer as to whether or not it should put the EU's fiscal treaty to a public referendum.
In the event of the government losing, such a vote would call into question Ireland's continued participation in the euro zone.
Irish voters could use the referendum to oppose the austerity measures required under the bailout program agreed to with the EU, the International Monetary Fund and the European Central Bank over a year ago.
Meanwhile O'Neill told the gather that U.S. firms had been impressed by the commitment of the Irish government to maintaining the country's 12.5% corporation tax rate.
Ireland is also hoping the strength of its export industry will help get it out of the bailout program. Signs that export growth will slow this year due to the euro debt crisis have not unduly alarmed analysts.
- The New York Times questions Ireland’s highly-p
- Gay wedding cakes latest target of anti-gay...
- Racist incidents in Ireland up by 85 percent...
- Spanish judge slams Ryanair’s sexist air...
- Bah! Humbug! The ten worst things about Christm
- No Irish prosecution for man named as world’s...
- Offensive NFL sign outside restaurant just...
- Ireland crowned “Top Tourist Destination”...
- An open letter in strong defence of capitalism.
- Dublin cops foil hit on drug kingpin John...
Everyone disregard my post that is unfinished. I hit enter by mistake, sorry.Spanish judge slams Ryanair’s sexist air hostess calendar
Chuck I didn't realize that you had a great sense of humor, that was to funny. I actually had to watch it two or three times before I came to my decisThe New York Times questions Ireland’s highly-praised economic recovery
Maybe the Times should question Obama's recovery.Bah! Humbug! The ten worst things about Christmas (PHOTOS)
And to you Chuck a very Merry Christmas and a Happy New year. I have my New Year resolution already and that is to stop antagonizing you, enough is en