Yesterday, the people of Ireland voted to take another step on the road towards economic recovery.
A clear majority have expressed support for Ireland ratifying the Stability Treaty and I welcome that and thank everyone who came out to Vote Yes.
In doing so the Irish people have sent a powerful signal around the world that this is a country that is serious about overcoming its economic challenges.
As I said throughout the campaign, this treaty will not solve all Ireland’s problems but it is one of the many foundation blocks we need to put in place to ensure that our economy stands on firm ground for the future.
The clear and decisive verdict of the people will help to create the stability and certainty that investors in Ireland need. It will enable the strong flow of inward investment by multi-national companies to create new jobs to continue.
This result also ensures that Ireland will be eligible for funding from the European Stability Mechanism, should that ever be required in the future. This is an important reassurance for potential investors.
The ratification of the Stability Treaty will also mean that Ireland and other Eurozone countries will put in place good housekeeping rules aimed at ensuring that responsible budgeting becomes the norm throughout the Europe.
The Government will now begin the process of ratification.
We will also contribute proactively to the negotiations on a growth agenda for Europe.
I have consistently argued that budget rules alone will not be enough to overcome the economic crisis in Europe.
They must go hand in hand with a real and concrete growth programme for Europe. Yesterday's vote strengthens the government's hand as we go into negotiations this month on that programme and seek an outcome that's good for Ireland and good for Europe as a whole.
I acknowledge the sacrifices that the Irish people are making to contribute to the process of economic recovery. Some of the measures we have had to take have been painful for many people.
I spoke about this reality earlier today with many of my EU counterparts, and about the growth agenda and the urgency of ensuring debt sustainability.
The developing situation in Europe’s banking sector needs a comprehensive solution and Ireland’s banking debt must form part of that solution. Europe badly needs a success story as it seeks to recover; Ireland can provide that success story if the right framework is put in place.
So I want this country and the Irish people to be the winners of Europe. The success story with a sustainable economic model built on real recovery and real jobs. Today has been a good day's work by all of us in that direction.
I acknowledge the role played by all the political parties and the numerous civil society groups who supported and campaigned for the Stability Treaty. I want to pay tribute to the incredible level of energy and determination that went into this campaign, and to the worthwhile national debate that took place.
The decision we had to take as a country was not an easy one given all we've been through, but I believe deeply that the decision made has been the right one for Ireland.