EU breathes sigh of relief as election date set

THERE was a sigh of relief in Brussels last night after Taoiseach Brian Cowen said the general election would take place on March 11, thus ensuring that the Finance Bill would be voted through the Dáil beforehand.

Elements of the budget are essential to the €67.5 billion EU-IMF loan intended to help put the country’s economy back on track and recapitalise the banking system.

“It is very important that these are agreed now,” said a commission official, adding that since they have negotiated with the current Government, it might be better to conclude the process with them.