News round-up: Top stories at lunchtime
€400 million in further cuts may be needed this year; Council says access to stability mechanism is critical; Spanish bailout likely, says Citigroup; DCC to sell distribution subsidiary.
* **€400 million in further cuts** may be needed this year, says Irish Fiscal Advisory Council .
* **Fiscal Council** says access to stability mechanism is critical for return to bond markets
* Citigroup has said that it is likely that **Spain** will get external aid from European authorities and the IMF this year.
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