Labour will ‘not be bound’ by agreement

LABOUR leader Eamon Gilmore has insisted his party will “not be bound” by the strict terms and conditions attached to the EU/IMF bailout.

He told the Dáil that the deal was a “sell-out” of Ireland and its right to determine its own future.

The memo of understanding between the Government, EU and IMF obliges Ireland to make €6bn of spending cuts and tax hikes in next week’s budget followed by another €3.6bn in next year’s budget and €3.1bn in 2012.