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09/09/2011
EU To Issue Bailout Report
Ireland’s performance against targets set out in the IMF/EU bailout deal will be revealed in a report to be published this morning.
The document prepared by the European Commission is expected to show that the country is on track to reduce the deficit as planned.
The report comes days after Germany's Deputy Economy Minister, Stefan Kapferer, in Berlin said Ireland is showing signs of "marked success" after taking steps to tackle the budget deficit.
It is understood that the report will contain the detailed application so far of the spending cuts, tax increases and economic reforms attached to Ireland's €80bn rescue package.
It will also focus on how well Ireland has reduced the budget deficit and whether is line with the 3% by 2015 guide.
In July, the EU, IMF, ECB "troika" issued a positive report on Ireland's progress at a news conference in Dublin. It is believed that today’s report will have more of the same upbeat findings.
"Important progress has been made" in cutting the deficit, bolstering the Irish banking industry and implementing structural reforms, the EU said today.
The EU has also welcomed Ireland’s plan to issue a budget strategy for the years 2012-2015, saying "early specification" of the proposed measures would "help sustain the recent improvements in market sentiment toward Ireland."
(LB/CD)
The document prepared by the European Commission is expected to show that the country is on track to reduce the deficit as planned.
The report comes days after Germany's Deputy Economy Minister, Stefan Kapferer, in Berlin said Ireland is showing signs of "marked success" after taking steps to tackle the budget deficit.
It is understood that the report will contain the detailed application so far of the spending cuts, tax increases and economic reforms attached to Ireland's €80bn rescue package.
It will also focus on how well Ireland has reduced the budget deficit and whether is line with the 3% by 2015 guide.
In July, the EU, IMF, ECB "troika" issued a positive report on Ireland's progress at a news conference in Dublin. It is believed that today’s report will have more of the same upbeat findings.
"Important progress has been made" in cutting the deficit, bolstering the Irish banking industry and implementing structural reforms, the EU said today.
The EU has also welcomed Ireland’s plan to issue a budget strategy for the years 2012-2015, saying "early specification" of the proposed measures would "help sustain the recent improvements in market sentiment toward Ireland."
(LB/CD)
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Ireland WeatherThis Evening and Tonight:Some late sunshine this evening. Staying dry with some clear spells developing between patches of cloud, this allows a few fog patches to develop through the early hours. Minimum temperature 10 °C.
