Wednesday, December 5, 2012

Ireland Budget: More Austerity Measures

Irish finance minister Michael Noonan has introduced new austerity measures while saying there are signs his country is emerging from the worst of the crisis.

Delivering Ireland's budget for 2013, Mr Noonan said the country must get back to a level which would fulfil the conditions of the EU/IMF bail-out package, so that it could return to borrowing money from the international lenders.

He introduced tax increases and spending cuts worth up to 3.5bn euros (£2.8bn).