The front page of Ireland's 'Metro' newspaper exhorts voters as polling stations open for the second referendum on the European Union's Lisbon Treaty, in Dublin, Ireland, on October 2, 2009. (Ben Stansall/AFP/Getty Images)
Brussels is counting on Ireland's three million voters to ratify the charter after they dismissed it last year, stalling the introduction of a long-term president and a stronger foreign policy chief for the EU's near half a billion citizens.
Voting was slow across the country, with turnout at around 20-25 percent by mid afternoon, but officials expect it to pick up when people leave work for the weekend.
"At the moment it is looking good for the 'Yes' vote, but we need people to come out this evening," European Affairs Minister Dick Roche told Reuters.
Opinion polls suggest this time around Ireland will give Lisbon the thumbs up when the results are declared on Saturday.
Dublin has secured concessions from Brussels, and many Irish fear that a second rejection would isolate the country as it battles one of the worst recessions in the western world.
But anger with the government, evidenced in street protests, anti-Lisbon posters and sometimes obscene graffiti decrying the demise of the "Celtic Tiger" economy, have made investors wary of betting on an easy "Yes".
Irish 10-year debt yields have widened more than 20 basis points over their German equivalent, the euro zone benchmark, since Wednesday but may bounce back if the treaty is ratified.
Rejection of the treaty could have serious consequences on the financial markets, said analysts.
"It's just a risk that's probably not worth taking," said Alan McQuaid, chief economist at Dublin-based brokerage Bloxham. "If there were to be a 'No' vote bond yields would just spiral out dramatically on Monday."
Prime Minister Brian Cowen, who could lose his job if he presides over a second defeat, has warned that rejection could provoke an exodus of foreign investment and has urged voters to set aside their feelings about him when they decide.
But his pleas have angered many people struggling with unemployment, higher taxes and the possibility of lower social welfare payments in the next austerity budget.
"I am not going to change my mind from the last time. A 'No' means 'No'," said Ron Russell, 42, as he walked down O'Connell Street, Dublin city's main thoroughfare.
"A lot of my colleagues would share the same opinion, most definitely," he said, as taxi drivers protesting against poor working conditions blocked one lane of traffic with cabs festooned with "No to Lisbon" stickers.
Through Gritted Teeth
Turnout was particularly low in working class areas, where voters are traditionally hostile to Europe, but even in the leafy middle class Dublin suburb of Booterstown many voters were ticking the "Yes" box with gritted teeth."I begrudgingly voted 'Yes' because I felt I had to, to a certain degree," said David Early, a 28-year-old photographer.
The Lisbon Treaty, designed to speed up decision-making in the EU, give it a long-term president and a stronger foreign policy chief, needs to be ratified by all 27 member states in order to take effect.
A second rejection would severely delay EU integration and further enlargement as both France and Germany have said expansion cannot take place if the charter is not in force.
It could also weaken the euro currency amid uncertainty over the bloc's future direction, opening the possibility of a two-tier Europe as some countries push ahead with closer cooperation leaving others behind.
An Irish "Yes" would put pressure on eurosceptic presidents in Poland and the Czech Republic to sign it into law.
President Lech Kaczynski of Poland said he was willing to ratify the charter if Ireland votes "Yes" but Czech President Vaclav Klaus is likely to delay his approval after 17 senators filed a constitutional complaint against the treaty.
But if the Czech Constitutional Court rejects the latest complaint before then he may be forced to adopt, marking the final scene in a tortuous ratification drama.
