Ireland Bailout: European authorities have blinked
In the bailout package agreed for Ireland by EU finance minister today, senior bondholders in Irish banks are 100 per cent safe.
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As Ireland negotiates its way out of recession, Channel 4 News hears that the fourth austerity budget in four years will take its toll on an already fragile country.
The claim “My concern is that a great deceit designed to damage Labour has led to profoundly misguided and dangerous economic decisions that I fear will cause deep damage to Britain’s future. What is this deceit? It is that the deficit was caused by chronic overspending rather than a global financial crisis that resulted in…
The spending cuts in Ireland outlined by Finance Minister Brian Lenihan were “not a normal budget, but the environment in which it was delivered is not normal”, writes economist Dr Peter Stafford.
Ireland outlines its toughest budget cuts in a generation as the country’s finance minister says it is time to move forward with “confidence and purpose”, writes Siobhan Kennedy.
In the bailout package agreed for Ireland by EU finance minister today, senior bondholders in Irish banks are 100 per cent safe.
More than 50,000 people have taken to the streets of Dublin to protest against the spending cuts and tax increases the Irish government is planning to introduce.
The euro plunges further as the debt crisis shows signs of spreading to Portugal and Spain, even after Ireland unveiled an austerity plan while negotiations on the country’s bailout continue.
The Irish government prepares to publish a 15bn euro plan for drastic savings amid financial crisis. Economics Editor Faisal Islam looks at what is at stake for Ireland’s political class.
Usually, a nation which has applied for a bailout will easily pass an austere Budget. But in Ireland, it’s rather more complicated, writes Faisal Islam from Dublin.
Some details of the spending cuts are emerging. A 10 per cent cut in social welfare payments, a €1 cut to the minimum wage, 28,000 public sector job cuts have all been concretely reported here in Dublin.
As Ireland negotiates terms of the multi-billion pound bailout, details of the government’s austerity measures emerge with welfare, jobs and minimum wage facing heavy cuts, writes Faisal Islam.
Negotiations over a multi-billion euro bailout with the IMF and EU continue, as the Irish Government faces calls for a General Election from a coalition partner. Faisal Islam examines the budget plan.
Ireland finally asks Europe for a financial bailout, after weeks of speculation – but the strings which might be attached to the “momentous” deal are not yet clear, as Faisal Islam explains.
The hasty confirmation Ireland will, after all the denials, apply for financial aid shows the country is no longer master of its own destiny, writes economic analyst Dr Peter Stafford.
Ahead of an EU bailout and a government austerity package, Channel 4 News speaks to Irish graduates about whether the country offers them a future.