Irish voters may have backed the new Fiscal Treaty by a comfortable margin but many did so through gritted teeth.
No-one wants more austerity, that's certain. This country has already endured four years of cuts. But voters here clearly believed that the treaty was the lesser of two evils.
To reject it would have risked disqualifying Ireland from any further bailouts and the signs are they may still need one when the current funding package expires at the end of next year.
The Taoiseach Enda Kenny praised his people's pragmatism after the vote. Certainly many of Europe's leaders - including Germany's Angela Merkel - will be breathing a huge sigh of relief tonight.
Taoiseach Enda Kenny said he "welcomes" Ireland's support of the European fiscal treaty which sets strict new budget rules on members of the eurozone.
In his first response to the resounding victory, Taoiseach Enda Kenny said Ireland's bank debt must be included in future discussions to revive the wider European economy.
The Irish people have sent a powerful signal around the world that this is a country serious about overcoming our economic challenges.
The treaty will not solve all economic problems but it is a foundation stone to make sure the economy stands on firm ground.
Herman Van Rompuy, President of the President of the European Council, has welcomed the outcome of the Irish referendum.
- Yes votes: 955,091 (60.3%)
- No votes: 629,088 (39.7%)
Ireland has officially passed the European fiscal treaty which sets strict new budget rules with a resounding referendum majority of 955,091 to 629,088 in favour, 60.3%, returning officer Riona Ni Flanghaile has confirmed.
Stability was the word used on the Yes campaign posters, and it now appears that Ireland has secured stability.
The Irish Government backed that result in today's referendum and warned that a No vote would have triggered an immediate economic crisis.
Had Irish voters rejected the treaty, the country would have been disqualified from approaching the EU or the IMF for further bailouts. The current bailout expires at the end of next year, so the country would have risked going bankrupt.
Although a No vote would not have stopped the fiscal treaty going ahead, it would have sent a worrying message to EU leaders that another country rejects austerity.
With results in from 22 out of 43 constituencies, 59.8% have voted in favour of the EU fiscal treaty in the Irish referendum. Only three constituencies - Donegal North East, Donegal South West and Dublin South West - have voted No.
With results from 13 out of 43 constituencies in, 57.1% of voters in the Irish referendum have voted in favour of the EU fiscal treaty. Turnout is around 50%.