The Treaty of Lisbon was signed in late 2007 and the intent of the document is to improve the efficiency of the EU.
Later this week Irish voters will participate in a referendum on the treaty. Bellow are some thoughts from Brown Brothers analysts on the topic:
For the second time in two years, Ireland will hold a referendum (Oct 2nd) on whether to adopt the Lisbon Treaty. A yes vote by Ireland could increase the odds that the Czech and Polish ratification process accelerates (Poland and the Czech Republic are the only other EU members not to have adopted the treaty.) Another Irish vote against the treaty, which is intended to increase the effectiveness of the EU, could delay or curtail implementation. Currently the polls point to a better chance of passage than in 2008. A weekend poll by the Sunday Business Post show 55% would vote yes, up one point and 27% would vote no, up two points with 18% undecided. (A second poll by the Sunday Independent showed a 5 point increase in yes voters to 68% and a 2 point increase to 17% for no voters.) That is higher than a similar Business Post poll taken before last year’s June 12th vote where 41% were in the yes camp and 39% in the no camp. rejected 53.45 to 46.6%. A yes vote could on the margin improve the outlook for long term structural adjustments in the EU but with attention focused on the sustainability of the economic recovery, the immediate impact will be limited.