Sunday 11 December 2016

EU target could spell disaster

Published 21/10/2010 | 05:00

THE Government's economic think-tank has warned that an EU requirement that Ireland impose a package of budgetary cuts and taxes of €15bn over just four years is unrealistic and could spell disaster.

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The Economic and Social Research Institute says, in effect, that the Government would better serve the people by ignoring EU strictures and extending its recovery schedule by two years.

It concedes that this is unlikely to happen, but the logical scenario it paints, if targets remain as they are, is chillingly credible.

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