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Image header Agence Europe
Europe Daily Bulletin No. 10506
SOVEREIGN DEBT CRISIS / (ae) ireland

Eurogroup says Ireland is setting a fine example

Brussels, 30/11/2011 (Agence Europe) - Eurozone finance ministers have hailed the example set by Ireland with its structural adjustment programme introduced in return for €67.5 billion of international aid and, on Tuesday 29 November, they have the go-ahead for the payment of the next aid instalment, €4.2bn, following the latest fact-finding report by the lenders (the European Commission, the ECB and the IMF). Ireland is picking itself up and its programme is on track, explained EU Commissioner for the Euro Olli Rehn on Tuesday. He said Ireland was a positive reference point for other countries in a similar situation. The chair of the Eurogroup, Jean-Claude Juncker, said that Ireland's example showed that the Eurogroup's policy could provide the desired outcome, saying that it was meeting its public deficit reduction targets and seeing a continuous reduction on the yields on its long-term debt. The United Kingdom is also lending money to Ireland and will shortly be providing a loan of €500 million. (MB/transl.fl)

Contents

A LOOK BEHIND THE NEWS
SOVEREIGN DEBT CRISIS
ECONOMY-FINANCE
EUROPEAN PARLIAMENT PLENARY
SECTORAL POLICY
FOREIGN POLICY
EXTERNAL RELATIONS
THE INSTITUTIONS