“What the Irish referendum actually means in practical terms”

2:36   This is from: @telegraph:

 

“An interesting blog from Open Europe here, on what the Irish referendum actually means in practical terms.

The Irish government had previously said that the chances (or risks if you ask the markets and EU elite) of a referendum were always 50-50, so this was far from a foregone conclusion. And… markets have reacted badly to the news of democracy, with the euro weakening significantly. But what is the precise significance of this announcement?

The vote will essentially determine whether Ireland has access to future bailout funds or not. For a country to access the ESM, the eurozone’s permanent bailout fund, it must have ratified and fully adhered to the treaty, according to the terms attached to the deal.

^{The Bank of Ireland”}

Written by Gary