#Open journalism No news is bad news

Your contributions will help us continue to deliver the stories that are important to you

Support The Journal
Dublin: 6°C Monday 6 December 2021
Advertisement

Troika in Ireland for bailout review

Representatives from the European Commission, European Central Bank and International Monetary Fund are in Ireland today for a review of the country’s bailout plan.

Image: Mark Stedman/Photocall Ireland

REPRESENTATIVES FROM THE European Commission, European Central Bank and International Monetary Fund are in Ireland today to conduct a bailout review.

The Troika are expected to focus on Budget 2012 and deficit-busting measures, during talks taking place over the next ten days, RTÉ reports.

Although Ireland is ahead of its targets for this stage of the bailout plan, it has been suggested that adjustments of a further €3.5bn may be necessary in order to close the country’s deficit to the target of 8.6 per cent of GDP.

The talks come amid growing fears over the eurozone debt crisis – which have been eased somewhat by an announcement by France and Germany to introduce a coordinated plan to bolster Europe’s banks to withstand a possible government bond default by Greece.

Nicolas Sarkozy and Angela Merkel said that the plan, to be presented by the end of the month, would also outline how to prevent contagion that could threaten other heavily indebted eurozone nations.

The Irish Independent reports that sources have indicated the government is going to ask for leniency on certain terms such as cuts to social welfare and income tax increases.

#Open journalism No news is bad news Support The Journal

Your contributions will help us continue to deliver the stories that are important to you

Support us now

Troika in Ireland for bailout review
1 / 7
  • Troika meeting

  • Troika meeting

  • Troika meeting

  • Troika meeting

  • Troika meeting

  • Troika meeting

  • Troika meeting

About the author:

Read next:

COMMENTS (12)