Bailout for beginners

While questions remain over the extent of outside influence on the country’s finances, one thing is certain: we will have to get used to a lower standard of living over the next few years

20th November, 2010
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What will the bailout being discussed with the European Union (EU) and the International Monetary Fund (IMF) mean for us all?

It will mean that much of what happens in the economy over the next few years will have to be agreed with these outside agencies.

They will lend us money under various conditions, which will have to be met by specified times. Already we have been negotiating our four-year programme with the European Commission...

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