Time is short and Europe must act
Published 15/07/2011 | 05:00
Eight months after negotiating the terms of our €85bn bailout, representatives of the EU/ECB/IMF "troika" returned to Dublin yesterday to check up on our compliance with the terms of the November 2010 agreement.
Despite the change of government in March, the new regime has adhered strictly, too strictly claim some of its opponents, to the terms of the deal hammered out with the EU and the IMF.
This year's budget deficit is on target, the banking system has been rationalised and economic growth looks set to resume this year. The troika recognised this stating that Ireland had "continued to steadfastly implement" the terms of the November 2010 deal.