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Lisbon Treaty will make recession worse – Morgan

21 August, 2009

Speaking in response to the announcement by Intel chief Jim O’Hara that his company intends to spend a six-figure sum supporting the Lisbon Treaty, Sinn Féin spokesperson on the economy Arthur Morgan TD has rejected the claims that a second No to Lisbon would damage the economy. The Louth TD went on to say that, “ratification and implementation of the Lisbon Treaty would make the recession worse.”

Mr Morgan said:

“Speaking yesterday Intel boss Jim O’Hara said that a Yes vote in the upcoming Lisbon Treaty was hugely important for the Irish economy. He argued that supporting the Treaty was the only way for Ireland to remain fully involved in the EU.

“Sinn Féin believes both of these claims to be false. The Lisbon Treaty was drafted by the same politicians who drove the Irish and European economy into recession. It contains the same right wing economic policies that underlie our current economic crisis. It is a neo-liberal treaty that promotes greater deregulation, undermining the ability of member states to intervene in their economies to stimulate growth and equality.

“Rather than assisting any economic recovery ratification and implementation of the Lisbon Treaty would make the recession worse.

“I would also challenge Mr OHara’s claim that a No Vote would undermine Ireland’s position in Europe. Ireland’s place in Europe is secure. A second no vote would strengthen the hand of any Irish government seeking to negotiate a better deal for Ireland and the EU.

“Unfortunately we heard many of the arguments put forward by Mr O’Hara during the first referendum campaign. The Yes side told us that a no vote would negatively affect inward investment and see us economically isolated in Europe. The facts tell a different story.

“In July of this year IDA CEO Barry O'Leary said: ‘It should be noted that 2008 saw a 14 per cent increase in foreign direct investment (FDI) on the previous year bringing the total number of FDI investments in 2008 to 130.’

“Speaking to the Oireachtas sub-committee on the Future of Europe on 21 October 2008 Paul Rellis, Managing Director of Microsoft Ireland said, ‘I have no seen any material impact on jobs, market access or sales in recent months attributable to the rejection of the Lisbon Treaty’.” ENDS

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