Will a €600 million easing-off be worth it?

The announcement that Ireland would make a smaller fiscal adjustment in 2014 than originally expected was met with cheers from many of my Irish contacts, writes Megan Greene.

12th October, 2013

Minister for Finance Michael Noonan's announcement on October 8 that Ireland would make a smaller fiscal adjustment in 2014 than originally expected was met with cheers from many of my Irish contacts. A smaller adjustment means lower tax hikes and smaller government spending cuts - surely that must translate into less pain?

Unfortunately, it's not so simple. A smaller adjustment could reduce the impact of austerity on living conditions in the short-term and won't impede the country's...

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