No, because all the substantial stuff in the fiscal pact is already in place and this "treaty" is a sop to Merkel and her own polls. Also no because if we need a 2nd bailout then it becomes Merkels and Sarkozys problem about how to fund it whether treaty is in place or not. There is no need for either the treaty or the referendum.
In place where? In our laws our constitution? No it is not. Other countries might have these rules, but we don't.
Actually also no because it in no way addresses the real problem that the vast majority of Europe's banks are fecked because of reckelss lending whether to property, sovereigns or stupidly amongst themselves.
What has the banks being fecked got to do with this? This about placing constraints on deficit spending by governments, to prevent sovereign debt crises in the future. It has nothing to do with fixing the current problems.
Here's a metaphor:
Ireland has really bad sunburn, and the EU has some after-sun. But after-sun only soothes, our skin still has to heal. Worse still, there's too many sunburned countries and non enough after-sun.
The treaty is sunblock, which is fuck all use when your sunburned. The EU rightly wants us to promise to use sunblock in future, before it dishes out the after-sun, because after-sun doesn't grow on trees.
Now there's also lots of individually sunburned people, who are crying that the EU and the banks sold them cheap foreign holidays, and Bertie the Budget Holidays rep didn't force them to use sun-block, but at the end of the day people decided they didn't need sunblock because they didn't get burnt on the first few days of the holiday. They're now paying for their own after-sun, as well as the country's!
Then there's the people who wore sunblock, and still have to pay for after-sun for those who didn't. They also have to share the after-sun they saved up in case the sun-block didn't work!
So, for me, 'Bertie and the EU didn't make me use sun-block, so I shouldn't have to pay for after-sun' is not relevant in whether or not we promise to use sun-block in future.