European report reveals the chaos of Irish economic collapse

A report into how the European Commission managed the austerity programme in Ireland paints a chaotic picture with conditions being changed, warning signs missed and documents missing.

The European Court of Auditors also reveals the Troika did not demand the Government privatise any of the State’s assets, but that this was proposed by the Government at a later stage.

The report found the commission was unprepared for the magnitude of the crisis and as a result its management, especially of the initial stages, was weak. It advised the commission it must improve its procedures to deal with any crisis.