Union leader: Adjustment levels ‘absurd’

UNIONS have hit out at the rising cost of the bank bailout, suggesting it will inflict further damage on the economy.

Reacting to news that the cost of the bailout could rise to above €40 billion, union leaders suggested the Government is being forced to intensify its cutback agenda as a result.

ICTU president Jack O’Connor denounced as “absurd” the fact that the Government intend to make an adjustment of over €3bn in cuts and tax raises in Budget 2011.