Draft EU agreement would be a 'budgetary straitjacket' for Ireland

Ireland would face many years of tough budgets, under the rules proposed in the draft new EU fiscal agreement, according to new research from Glas Securities. To meet the rules on reducing debt leve

22nd January, 2012

Ireland would face many years of tough budgets, under the rules proposed in the draft new EU fiscal agreement, according to new research from Glas Securities. To meet the rules on reducing debt levels, Glas calculates that Ireland would be in a budgetary "straitjacket", forced to introduce balanced budgets for many years to have any hope of meeting the target of moving to a debt level of 60 per cent of GDP.

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