Gilmore: Austerity plan is on track

IRELAND’S austerity programme is very much on track and should protect the country from having its credit rating cut to junk, Tánaiste Eamon Gilmore said in Germany yesterday.

His confident opinion was supported by German foreign minister, Guido Westerwelle, who described the country as having enormous potential, and said there was good reason to believe in its economic recovery.

Mr Gilmore said Ireland was on track in implementing its bailout programme and that Ireland’s “different set of circumstances” from Greece will protect it from a similar downgrade.