Cowen: Cutbacks needed to protect our sovereignty
Continuing his Government’s PR offensive for a hairshirt December budget, Mr Cowen said a country would be “at the mercy of its creditors” if it became unsustainably indebted. He dropped a broad hint that public service pay cuts would be imposed, saying it would be unfair if all the necessary savings were made simply by axing services.
“All areas of public expenditure have to be looked at. Otherwise those who depend on public services would be asked to take too large a burden of the adjustment that is necessary,” Mr Cowen said. He also made clear he expected all the social partners – not just the unions – to play their part.