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09/11/2010
Rehn Seeks Political Consenus On Irish Cuts
European Economic and Monetary Affairs Commissioner Olli Rehn is supporting the Irish Government's measures to cut the Irish Republic's Budget deficit and has today called for political consensus to support the plans.
Mr Rehn made the announcement at a press conference last night, following a meeting with Finance Minister Brian Lenihan.
He endorsed the Government's target of reducing the deficit to below 3% of GDP by 2014 and said that planned cuts of €6 billion in the forthcoming Budget were "essential and correct".
Mr Rehn said it would be of "great benefit for Ireland if a broad political support for the necessary consolidation measures and structural reforms could emerge and could be developed". He also said that Ireland's strengths "are too easily forgotten" and stressed that the country has "strong economic fundamentals".
Speaking of the potential for recovery, he said: "Ireland has done it before. Ireland can do it again."
However, speaking today, Mr Rehn said that the €15 billion in adjustments required over the next four years could be re-negotiated.
Mr Rehn met with the leaders of the opposition political parties today, as well as IBEC and ICTU representatives. He also paid a courtesy call to Taoiseach Brian Cowen at Government Buildings this morning.
(KMcA/BMcC)
Mr Rehn made the announcement at a press conference last night, following a meeting with Finance Minister Brian Lenihan.
He endorsed the Government's target of reducing the deficit to below 3% of GDP by 2014 and said that planned cuts of €6 billion in the forthcoming Budget were "essential and correct".
Mr Rehn said it would be of "great benefit for Ireland if a broad political support for the necessary consolidation measures and structural reforms could emerge and could be developed". He also said that Ireland's strengths "are too easily forgotten" and stressed that the country has "strong economic fundamentals".
Speaking of the potential for recovery, he said: "Ireland has done it before. Ireland can do it again."
However, speaking today, Mr Rehn said that the €15 billion in adjustments required over the next four years could be re-negotiated.
Mr Rehn met with the leaders of the opposition political parties today, as well as IBEC and ICTU representatives. He also paid a courtesy call to Taoiseach Brian Cowen at Government Buildings this morning.
(KMcA/BMcC)
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