'No upside to No vote' - Power
Economist Jim Power was in Cork this morning highlighting the current challenges and obstacles facing European and Irish recovery.
The chief economist with Friends First was speaking to a business breakfast meeting in the Clarion Hotel, organised by Quintas Wealth Management.
Throughout his talk Mr Power highlight the potential benefits for voting Yes in tomorrow's ballot on the Fiscal Treaty, stressing that there was "no upside to a No vote."
"There will be no reason in voting No tomorrow. It would severely damage our reputation abroad which is currently being mended on what it was 15 months ago. A No vote would also question whether we can remain as part of the Euro currency."
Mr Power also criticised the "paranoia and anti-growth bias" in the European Central Bank for failing to increase interest rates which was a "sign of weakness in the European Monetary Union."
A Marshall Plan type solution was proposed for the Greek problem, where the economic commentator suggested a loan would not be enough to solve their problems, and by extension, the problems of Ireland.
"We need a fiscal input into Greece similar to the one that took place in Europe after World War Two," commented Mr Power.
"Minister Noonan was right when he said our economic ties to Greece do not venture further than feta cheese. However it is the contagion effect that we must be most wary of, which is a real threat."
Those in attendance also heard from Kenny Kane of Quintas Wealth Management on the current state of property investments and from Fionán O'Sullivan, Director of Corporate Pensions at IFG Pensions, Investments and Advisory Services.