Is this much close enough to too much when it comes to austerity? December 18, 2012Posted by WorldbyStorm in Economy.
The International Monetary Fund said Ireland could delay some of the budget cuts required under its bailout program if the country’s economy grows more slowly than expected next year.
The Washington-based lender, one of a trio overseeing Dublin’s 85 billion euro ($112 billion) bailout, said Ireland had so far shown “steadfast policy implementation” with the conditions of its loan program, despite slower growth this year.
“If next year’s growth were to disappoint, any additional fiscal consolidation should be deferred to 2015 to protect the recovery,” Lipton said in a statement.