The economists have spoken: Irish voters should vote “yes” on the fiscal compact later this spring or else.
From a report from Ireland’s largest stockbroker comes the following:
A No vote would cast doubt over Ireland’s commitment to the euro and could trigger a ratings downgrade which would destroy our chances of returning to the bond market for the foreseeable future, he added. Yields on Irish bonds are likely to rise ahead of the vote, which will be held some time this year. Bond yields would rise sharply if the people were to vote No but fall if the people were to vote Yes.
The gauntlet has been laid down — I expect this refrain to become a steady drumbeat in advance of the referendum.
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