IMF praises ‘exemplary’ Irish measures but warns against too many state cuts

THE IMF has warned the Government not to cut too much more out of the economy, while it described the country as “exemplary” for the measures taken to deal with the crisis as part of our €67bn bailout deal.

However, Ireland would be helpless in the face of a global slowdown, being so dependent on exports, and additional measures would have to be taken then, said Antonio Borges, the IMF’s European head.

His statement came on foot of steps in the EU to prepare for a second multibillion-euro bailout ofEuropean banks as the three-year-long eurozone crisis appeared to be worsening.