Follow Us

Follow us on Twitter  Follow us on LinkedIn
 

16 October 2012

Troika arrive in Ireland for bailout review but tensions remain in group


The eighth troika mission to Ireland kicks off as the IMF and European bailout teams remain at odds over who will shoulder the full cost of the €64 billion Irish bank bailout debt.

Officials from the European Central Bank (ECB), the European Commission (EC) and the International Monetary Funds (IMF) are in Dublin for the final review of progress under the bailout programme before December's Budget. The high cost of running the health system, including the budget over-run at James Reilly's department, has already been flagged as a key concern for the officials.

So too are the full extent of the Croke Park savings and so-called "universal payments" through the social welfare system such as child benefit and old-age benefits that are the same for all recipients, regardless of their means.

The bailout team is also focused on ways of broadening the tax base, including pressing ahead with property taxes and other measures to spread the cost of running the State across more of the population. Unlike previous troika missions, the latest visit comes at a time of growing tension between the Washington-based IMF and Europe's own rescue teams.

Full article



© Independent Newspapers Ireland Ltd.


< Next Previous >
Key
 Hover over the blue highlighted text to view the acronym meaning
Hover over these icons for more information



Add new comment