English.news.cn 2012-05-31 15:57:53
DUBLIN, May 31 (Xinhua) -- Ireland went to the polls on Thursday to approve or reject the European Fiscal Treaty, which 25 European Union (EU) countries, excluding Britain and the Czech Republic, signed in March this year.
Polling stations, which were opened at 7 a.m. (0700 GMT) , will be closed at 10 p.m. (2200 GMT) nationwide. According to Ireland's Referendum Commission, 3.1 million people of voting age have registered to cast their ballots.
Ireland is the only EU member state that puts to vote the German-inspired compact, known as the Treaty for Stability, Coordination and Governance, because under the country's Constitution any transfer of sovereignty requires a referendum.
The Yes camp, including Fine Gael, Labor and Fianna Fail, stressed the rejection could deprive Ireland of access to the eurozone bailout fund, the European Stability Mechanism (ESM).
Ratification of the treaty is a precondition for borrowing from the fund. Ireland will continue to receive funds under the current rescue program from 2010, amounting to 85 billion euros.
The No sides, including Sinn Fein, argued the approval could result in stringent austerity measures, tax increases, higher unemployment and even transfer of fiscal sovereignty.
Counting of ballots will start at 9 a.m. (0900 GMT) on Friday in 43 constituencies with the results received by the central count center in Dublin Castle. The result is widely expected to be known at noon Friday before being officially announced later in the day.
The treaty will come into effect with the support of 12 states, regardless of the Irish stance. Latest opinion polls have showed most people would vote to ratify the treaty.
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