Saturday February 22, 2020

Do not abandon rainy day fund, warns European bailout body

Ian Guider

Markets Editor

25th June, 2017
Michael Noonan

The European rescue fund that provided bailout cash to Ireland has said the government should stick to building a rainy day fund and reduce the national debt.

The European Stability Mechanism (ESM), whose forerunner provided almost €18 billion of bailout loans, urged the government to stick to the target of reducing debt to 45 per cent of the economy, as announced by Michael Noonan in his last budget. It also backs a plan to establish...

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