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20/10/2011
Ireland 'Making Progress' Under EU Bailout
It has been revealed that Ireland is 'on track' in terms of the savings and making repayments under the EU bailout scheme.
The Government has successfully concluded its third successive quarterly programme review mission with the EU Commission, the ECB and the IMF.
Following this they have said that the Programme is on track and Ireland is making substantial progress in all the key areas.
While the restructuring of the banking sector is said to be yielding significant savings on the capital to be invested by the taxpayer.
Finance Minister Michael Noonan said he's determined to make more "tough decisions" and deliver more austerity.
He said: "This Government has been very clear at all times that we are determined to take all the necessary steps to restore our sovereignty.
"As part of this the Government is committed to making the necessary level of budgetary adjustment in 2012 of at least €3.6 billion to ensure that the 8.6% deficit of GDP target is achieved."
(LB/BMcC)
The Government has successfully concluded its third successive quarterly programme review mission with the EU Commission, the ECB and the IMF.
Following this they have said that the Programme is on track and Ireland is making substantial progress in all the key areas.
While the restructuring of the banking sector is said to be yielding significant savings on the capital to be invested by the taxpayer.
Finance Minister Michael Noonan said he's determined to make more "tough decisions" and deliver more austerity.
He said: "This Government has been very clear at all times that we are determined to take all the necessary steps to restore our sovereignty.
"As part of this the Government is committed to making the necessary level of budgetary adjustment in 2012 of at least €3.6 billion to ensure that the 8.6% deficit of GDP target is achieved."
(LB/BMcC)
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Ireland WeatherThis Evening and Tonight:West to northwest gale force winds, severe along the north coast, will continue overnight. Frequent showers persist, merging into longer periods of rain at times and turning wintry. Minimum temperature 1 °C.
