Titanic, Treaty and Savita
The central political event in the Republic was the referendum of 31 May on the European Fiscal Compact, formally the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union. Ireland was the only state to put this particular treaty to a popular vote. Its opponents argued that it would entrench austerity and place further limits on democratic economic choice; its supporters maintained that ratification was necessary to demonstrate financial reliability and preserve access to future euro-area assistance. The campaign made the external constraints on Irish policymaking unusually visible. The State’s fiscal decisions were being judged not merely in Leinster House but by European institutions, the International Monetary Fund and lenders in international markets.