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Home Page > News > IMF believes Ireland needs more support from Europe

IMF believes Ireland needs more support from Europe

Report approves recent budget measures introduced by the government

BERNIE MALONE,

IrishCentral Staff Writer

Published Wednesday, December 21, 2011, 8:03 AM

Updated Wednesday, December 21, 2011, 8:03 AM

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Ajai Chopra, left, Deputy Director of the European Department of the IMF is surrounded by journalists as he arrives at the Central Bank of Ireland for crucial talks with the Irish government in Dublin, Ireland, Thursday, Nov. 18, 2010.

Photo by AP

The International Monetary fund have called on Europe to provide greater support to Ireland to help the economy improve.

The IMF will provide $30 billion in rescue funding to Ireland over the next three years and has already funded $17 billion.

The call was made in a report on Ireland, as part of its review on the latest EU/IMF program.

The report states that continued support of Ireland would help benefit overall European stability.

“Amid renewed stresses in the euro area, sustained firm program implementation matched by continued strong European support will be required to underpin prospects for regaining market access at an early stage,” the report says.
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Read More:
IMF backs Irish government’s fiscal policy with latest bail-out handover

The IMF has decreased its forecast for Irish growth for 2012 from 1.9 percent to 1 percent.
They have recommended a range of measures including medium-term funding for Irish banks from the European Central Bank and temporary equity participation in banks by European partners.

The report noted that Ireland had met the main budgetary and banking targets of the bailout deal and broadly approves the measures adopted in the recent Budget.

“The authorities have renewed their commitment to putting the budget on a
sound footing to ensure debt is on a firmly downward path,” the report states.

Nster.com

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9 Comments

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gobdawpaddy | Dec 22, 2011, 03:15 PM EST

I am looking at the standard of english and the economic perception of two posters and it makes me understand why Ireland is neck deep in brown stuff.

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gobdawpaddy | Dec 22, 2011, 07:19 AM EST

Considering the standard of english and the 'economic' observations of a certain two posters here, it

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ciaradexy | Dec 21, 2011, 06:36 PM EST

FastEddy-Taxes havent gone up and the celtic tiger isnt dying, its dead since 08.

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carlow98 | Dec 21, 2011, 05:02 PM EST

Take the 30 Billion and watch the noose tighten.

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awoken32 | Dec 21, 2011, 02:29 PM EST

International banking elite have to much power,they controll the politicans,they controll the media,they are now controlling the armies,armies are more like mercenaries now fighting not for countries but the interest of the oligarchy banking elite,with their corrupted media making the lies in order to justify the illegal wars against the people in the middlie east and beyond,killing an maiming milloions of innocent,for finacial gain nothing more an nothimg less,they are the parisites of the day and always have been,they all should be brought up on war crime charges,the people need to revolt burn the bankers an take back the power before we end up in a WW3,bitching to attack because make no mistake they are itching to attack iran with china an russia to come into it,in order to build the new world order,this world has to end,either the corrupted media will spread propaganda about iran so the peole will get behind it,or a false flag terrorist attack will be staged to get the people behind the illegal invasion,the sheeple need to step back an take a look at the facts,THE OLIGARCHY HAVE NEVER BEEN FOR THE PEOPLE

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FastEddy | Dec 21, 2011, 01:04 PM EST

" The IMF has decreased its forecast for Irish growth for 2012 from 1.9 percent to 1 percent. ..." Because Irish taxes keep going up. The Celtic Tiger is dying. As long as the IMF keeps skimming 8% to 10% off the top and on top of the bond/loan/bailout interest, Ireland will continue the slid into the third world. Cut Irish taxes and the greedhead Wall Street/Berlin taxsuckers will go away and the Tiger will survive.

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awoken32 | Dec 21, 2011, 11:39 AM EST

Anybody that lustens to the IMF needs there heads examined,they are the ones that caused recession throughout europe,they need europe to collapse in order to bring in the new world order,goldman sachs are monopiliesing europe as it is with there unelected employies been put into greece an italy,it is banks that cause depressions and it always has been throughout history,with the end result been chaos,like there slogan is oreder out of chaos,its strage the way none of the presstitutes in the corrupted media never mention iceland anymore as iceland is well on its way to recovery because the people made their politicans accountable for there political treason,ireland should follow the lead,burn the bankers an bring back the punt as our soverinty will all but disapear under the facist EU,it will be hard at the start just like iy was fir iceland,but in the current situation in the EU now,our deaths are immposible an cannot be paid back,thats a fact,we will be stripped of all our natural resources,follow icelands lead an leave EUSSR

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IrelandNorth | Dec 21, 2011, 09:41 AM EST

If ever there were people playing monopoly board games with European nations/states, the IMF/ECB are it. Monopoly capitol prevails. Like American novelist Gore Vidal said of America - "the best democracy money can buy", Ireland now has the best political system the political establishment can manufacture - with a little help form their friends.

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LoyalCitizen | Dec 21, 2011, 09:08 AM EST

The continued support of Ireland is a farce. The support is for the retards who cannot run a piss up in a brewery..........The easiest way to get rid of the debt is to strip the traitors of there ill gotten gains. Ireland would be liquid again in weeks.........With traitors running the courts its most doubtful to ever bring to justice the traitors of Ireland and the funding will cause a very long and protracted death for Ireland.

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