Stark analysis: Ireland a role model for austerity, says outgoing ECB member
Published 21/11/2011 | 16:30
IRELAND is a "role model" on how to administer a bailout, outgoing ECB member Jurgen Stark today a Dublin audience today.
Speaking at the Institute of International and European Affairs in Dublin, Dr Stark commended Ireland’s approach to austerity.
He added: "It is feasible, it’s possible to implement progress as long as there is support from the society and consensus across political parties.”.
Dr. Stark also told the Institute that the global economy faces “strong headwinds” which will continue to restrain recovery.
However, he warning Europe of “talking itself into a recession.”
He also noted that “debt tolerance is declining” among investors, who are “taking a closer look at fundamentals of countries before investing.”