Nice vital to business - survey

More than four out of five Irish business managers believe a ratification of the Nice Treaty next week is "important for Irish business", according to a new Deloitte & Touche survey.

And 43 per cent of respondents said the strength of the euro was a major threat to the Irish economy while 93 per cent said it was in Ireland's interests that Britain joined the euro zone.

Some 82 per cent of business people surveyed said they believed a Yes vote was important for Irish business. More than half, 58 per cent, of those surveyed strongly agreed that a Yes vote was important for Irish business while 24 per cent "slightly agreed". Only 8 per cent disagreed and 10 per cent expressed no opinion.

The survey was carried out by Amarach Consulting on behalf of Deloitte & Touche with 346 business managers responding across all sectors.

Mr Pat Kenny, managing partner of Deloitte & Touche, said it was clear Irish business leaders believed the well-being of the Irish economy would be best served by a ratification of Nice. "While the referendum is not solely a business issue, most managers support the idea of an expanded European market for their products and services. Irish business managers are already seeing the benefits that the breakdown of trade barriers can bring, particularly since the advent of the euro," he said. "The breakdown of other barriers to trade via the treaty will be regarded as a positive move by the Irish business community."

Business managers in State bodies were in favour of the treaty with 82 per cent of respondents in that category believing the treaty would be good for the Republic's economy, while 75 per cent of business managers in Government departments expressed the same view. There was also strong support for the treaty among those involved in the manufacturing and consumer business sectors, particularly among companies involved in importing and exporting.

The survey also reveals that 82 per cent of business managers believe Britain will join the euro zone in the next three years. And almost all, 93 per cent, believe it is in Ireland's interest that Britain joins. When asked about the rising value of the euro, 43 per cent said they believed a strengthening euro was the "biggest threat facing the Irish economy". But 31 per cent disagreed that a strong euro was a threat.

Asked if they were "more sceptical about the EU than five years ago", 51 per cent disagreed, with more than one in four, 28 per cent, saying they "slightly agreed".