Gilmore warns jobs in jeopardy after budget snub

Tánaiste Eamon Gilmore warned that billions of euro worth of projects designed to create growth and jobs were in danger after members of the European Parliament snubbed a meeting to reach agreement on the EU’s budget.

Meanwhile, economics commissioner Olli Rehn was under fire from MEPs for suggesting reforms could be slowed in some countries but hinted that while that might be economically wise, politically it could be difficult to do because of pressure from pro-austerity countries like Germany.

Chancellor Angela Merkel, who supports continuing austerity measures, said: “Growth only on the basis of state financing won’t make us more competitive in Europe.”