FRANKFURT (MNI) – German Chancellor Angela Merkel said Friday the
approval by Irish voters of the EU fiscal compact treaty was “good news”
for Europe and would serve to strengthen the Eurozone’s efforts to
create a stable monetary union.
Merkel said in a statement that the fiscal compact was an
“important step” toward achieving long-lasting stability in the
Eurozone, and added that the result showed the Irish people were willing
to accept the “demanding” consolidation path that the Irish government
has put in place.
“The positive outcome … is good news for Ireland and Europe. The
result of the referendum strengthens the Eurozone’s common course in
creating a new, long-lasting, stability union,” Merkel said. “The fiscal
treaty is an important step on this path.”
Merkel said EMU stability would come with a combination of ongoing
consolidation as well as efforts to boost economic growth and
competitiveness throughout the Eurozone.
“The durable stability of the economic and monetary union can only
be achieved together, and not overnight,” Merkel said. “Continued
consolidation efforts must go hand in hand with strengthening growth and
competition in the Eurozone’s economies.”
The statement came after Merkel spoke by telephone with Irish Prime
Minister Enda Kenny Friday afternoon to congratulate him on the positive
result, for which the Irish government campaigned heavily. Official
results Friday showed 60.3% of voters approved the treaty, while 39.7%
voted against.
— Frankfurt bureau: +49 69 720 142; email: frankfurt@marketnews.com
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