The sorry saga of Irish Water still casts a cloud over everything Coalition tries to do
NUTS, or Nomenclature Unit's Territorial Statistics, is the official terminology used for the statistical grading of Eurostat countries when determining State aids. Surely the bureaucrats in Brussels who came up with the acronym could never have foreseen a story as bizarre as Irish Water when they came up with the terminology. Oddly enough, it fits very well!
An official ruling by Eurostat yesterday that State funds spent on Irish Water must remain on the national balance sheet, has turned the greenfield utility project Irish Water from a domestic story into a European political saga with more twists and turns than a garden hose-pipe.
For the Government, it has put a big dent into its Budget plans, and a bigger dent in its political credibility.