Irish Voters to Decide on EU Fiscal Treaty in Thursday Referendum

Posted May 31st, 2012 at 12:30 am (UTC-5)
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Irish voters will decide in a referendum Thursday whether to accept the terms of a European Union fiscal treaty tied to financial aid and designed to bolster the troubled eurozone.

Ireland signed the treaty in March with most EU member countries. The treaty imposes strict limits on debt and budget deficits.

But Ireland is the only country putting the EU fiscal plan to a referendum vote.

Analysts say the referendum is expected to be approved by a majority of Irish voters.

The Irish government has warned citizens that failure to approve the EU's plan would not be in the country's best interest of getting bailout help when the funds become available in July.

If Irish voters reject the referendum, the treaty could still be approved by 12 of the 17 countries using the euro currency.