News Summary: Ireland votes on Europe treaty

AP News
Posted: May 31, 2012 6:49 PM
News Summary: Ireland votes on Europe treaty

ROCK AND A HARD PLACE: Ireland's voters confronted a dilemma Thursday as they voted on a referendum to ratify the European Union's deficit-fighting treaty: Voting yes could mean more years of austerity, but saying no could mean national bankruptcy next year.

BACKED BY GERMANY: The referendum is backed by Germany as a confidence-building measure but criticized by many economists as exactly the wrong kind of medicine for countries drowning in red ink.

STANDALONE: Ireland is the only EU nation requiring a national vote for ratification, although the treaty does not require Irish approval to proceed elsewhere. Results come Friday.