Friday 28 October 2016

The Week that was

Published 11/07/2015 | 02:30


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THERE was turmoil in Brussels after Greeks voted overwhelmingly to reject the terms of a new bailout, putting the country's future in the euro on the line. Defying warnings from across Europe that rejection of Troika conditions would put the country on the path to exit from the euro, the No was comfortably passed by 60pc to 40pc for Yes.Tuesday

Germany reportedly expressed its unwillingness to write off Greek debts as it fears it would result in similar deals for Ireland, Spain and Portugal. The European Central Bank kept the drip-feed of emergency credit to Greek banks open but piled pressure on EU leaders to strike a deal. Wednesday

THE European Commission backed the hard line being taken by Irish banks in their refusal to slash variable mortgage rates for tens of thousands of families.Thursday

FINE Gael TDs reacted furiously after Taoiseach Enda Kenny refused to take any action to prevent "disgusting" pension increases being paid to former ministers. Tensions were also growing within the Coalition after Public Expenditure Minister Brendan Howlin took a swipe at Health Minister Leo Varadkar, accusing him of coming up with a "nice, round figure" of €1bn in his demand for extra health funding.

Friday Finance Minister Michael Noonan said that he will cut the Universal Social Charge by 1pc in the forthcoming Budget in October.

Irish Independent

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