EU urges further budget oversight for structural issues
There may also be an incentive of cheap loans, grants, or guarantees to encourage participation in a German-inspired contract, but Ireland and all but four eurozone countries appear likely to be excluded from it until the Government gets the budget deficit under 3%.
Oversight of Ireland’s accounts will continue as each of the three main creditors — the European Commission; the EU states, represented by the European Stability Mechanism; and the IMF — will make inspections up to four times a year to ensure the Government is making provision to repay them.
