Commissioner gives cautious welcome to ‘stabilisation of public finances’

“A GOOD start, but more to do” was the response from Brussels on the Government’s four-year programme.

European Economics Commissioner Olli Rehn, who first demanded the detailed plan earlier this year to prove to the markets that Ireland could make the necessary adjustments, described it as an important contribution to the stabilisation of Irish public finances.

He said it would “strike a balance between allowing the nascent recovery to strengthen and addressing budgetary challenges in a timely fashion”.