Mick Wallace (Wexford, Independent)

There is little doubt that the majority of people will go to the polls on 31 May without really know what they are voting on due to the disingenuous nature the debate thus far. The Government tells us it is important to vote "Yes" in order to get the money. We have already received confirmation from Europe that any country in a programme will get money if it needs it. If Europe did not give us money to help us stand on our own feet, it would be like cutting of one's nose to spite one's face. The question would also arise of how we could repay the bank debt if it did not continue to give us loans.

We are told the treaty is about housekeeping. That is an abuse of the word "housekeeping". Where is the evidence the treaty will bring confidence, stability or a recovery? For the last three years we were told austerity would restore confidence because people would start spending and the private sector would create jobs. We cut public spending and wished on a star that the private sector would start spending. The confidence fairy does not exist, however. No economist worth his or her salt believes it is possible to get growth from austerity. It is the same as taking blood from a patient and expecting a full recovery.

It amazes me there is nothing positive in this treaty. It makes the threat that we will be unable to access money. That is not positive. It proposes to introduce draconian rules on the citizens of this country. We would tie our hands by making it more difficult for any Government to prepare budgets. Furthermore, we face the prospect of fines if we do not keep to the rules. The Government cannot claim that we will retain our financial independence when it is as obvious as black and white that we would be agreeing to having restrictive rules imposed on us by the EU. Future Governments will also be hampered by an agreement we will have added to the Constitution and the Irish people will have less say in how their affairs are managed.

The most disappointing aspect of the fiscal treaty is its emphasis on controlling public debt. Some people have argued that we would not be in our current mess if the treaty was in place several years ago but our problems did not arise because of public debt. This crisis is the result of private debt which became public because of a poor decision. The notion that the fiscal treaty would have averted the crisis is a complete lie.

The removal of power from governments is consistent with much of what has happened over the past 30 years since the advent of neoliberalism. At the heart of neoliberalism is the belief that the State should keep its hands away from the affairs of business and the boats will rise for everybody if the markets and big business are allowed to take care of things. We know at this stage this neoliberalism has not worked out as planned. These theories have been seriously discredited since the crash began yet we being asked to include neoliberal ideas in our Constitution. It is not remotely in our interest to do so. The people have to understand that a "No" vote will force Europe to revisit this question. It is time that Europe started to treat us with fairness once again. It is completely unfair that the people are made to carry the burden for the problems created by the financial sector. It is even more unfair that plans are afoot to make matters worse for ordinary people.

A "Yes" vote is a vote in the dark for uncertainty. We do not have a clue where the Government will raise the money to meet its targets. It is madness.

See this speech in context