Madam, - Eamonn Farrell (February 25th) asks those who oppose the Lisbon Treaty to address the economic implications of a No vote.
For its part, Libertas wishes to acknowledge the role of entities such as the IDA in attracting foreign direct investment, which now accounts for 75 per cent of manufacturing output, a colossal 90 per cent of manufacturing and services exports and 50 per cent of all employment in manufacturing and international services.
Under Article 158 of the Lisbon Treaty, the EU would for the first time gain the exclusive right to make laws relating to foreign direct investment under the umbrella of the Common Commercial Policy. Under the terms of the Treaty, Ireland loses its veto - a vital trump card in negotiations - in this key policy area while our voting weight is cut by 55 per cent and Germany's is increased by 110 per cent and France's by 80 per cent. We would lose our Commissioner for five out of every 15 years, removing the Irish voice from the body which has the exclusive right to initiate legislation. Ireland's economy would also be bound by international treaties and trade agreements negotiated by the EU acting for the first time as a single legal entity and we surrender to EU law which is granted primacy over our laws.
In the context of all this dramatic reduction of Ireland's voice in Europe, we would face across the negotiating table much larger countries with increased powers under the Lisbon Treaty. These are states which have been unabashed in their jealousy of Ireland's success in maintaining low corporation tax rates and using pro-growth regulatory regimes to attract foreign direct investment.
On the subject of the Common Consolidated Corporation Tax Base, I will leave the comment to Commissioner Charlie McCreevy himself. Last May, he referred to the "long-term hidden agenda" for a CCCTB, describing it as a "sinister" idea that "refuses to die". Permanent officials in the Commission were seeking to smuggle in the "deliberately unworkable proposals which amount to a Trojan horse to enable the Commission take control of taxation". He described the move as an "underhand tactic to destroy tax competition in Europe". These plans haven't gone away you know: they have just been shelved, like the Brazilian beef, until after the Treaty is ratified. Mr McCreevy, like the other Yes men, has to toe the line and will retort "tax veto". However, a back door is left wide open in this Treaty.
All right thinking people, like us, are enthusiastic supporters of the European project and recognise the benefits it has brought to Ireland both socially and economically. However, the forthcoming referendum on Lisbon Treaty is not a vote for or against Europe. Rather, it is a vote on a deal in which Ireland - and the Irish economy - would stand to lose much and gain nothing we do not already have. A No to Lisbon is a Yes for a better future for Europe. - Yours, etc,
DECLAN GANLEY, Chairman, Libertas, Tuam, Co Galway.