Fiscal Treaty referendum on 31 May


The Irish government has set a date of 31st May for a referendum on the Fiscal Treaty Pact.

The pact which was drawn up last year during the height of the Eurozone economic crisis will force governments to restrict their spending and will introduce new deficit rules to prevent budgets such as those in Ireland, Greece and Portugal from spiralling out of control.

The United Kingdom and Czech Republic refused at the time to sign the pact. Ireland is obliged under its constitution to call a referendum. Other countries are experiencing difficulties in getting the pact passed by their parliaments.

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