Sutherland: €3bn cuts not enough

FORMER attorney general Peter Sutherland has called on the major political parties to back tough action to restore international confidence in the Irish economy.

It is clear that well in excess of €3 billion in cuts in next year’s budget will be needed to win back the support of the markets, Mr Sutherland said.

Claims have been made that any attempt to increase the cuts beyond €3bn to calm the markets would meet strong resistance.